This company reported a massive jump in its data center revenue last quarter thanks to its growing traction in the AI chip market.Shares of Broadcom (AVGO 0.87%) delivered impressive gains of 82% in the past year thanks to the company's solid position in the market for custom artificial intelligence (AI) chips, which led to robust growth in the company's semiconductor business. It also helped that Broadcom was named the second-most important AI chip company after Nvidia by JPMorgan analyst Harlan Sur.That d ...

Wall Street expects Broadcom Inc AVGO to report $1.20 in earnings per share (EPS) and $12.96 billion in revenues when the company publishes third-quarter earnings on Thursday after market hours.The stock is up 77.38% over the past year, 42.54% year-to-date.Let’s look at how Broadcom’s stock currently maps against Wall Street estimates.Broadcom‘s Bearish Trend Ahead Of Q3 Earnings Broadcom’s stock is showing a bearish trend, with the share price of $151.87 trading below its five, 20 and 50-day exponential mo ...

G0d4ather Intro & Thesis I initiated coverage of Broadcom Inc. (NASDAQ:AVGO) stock on July 20, 2023, with a "Hold" rating, which I upgraded to "Buy" in April 2024, admitting my mistake and assuming that the risks I was afraid of initially might not exist. Since my upgrade, the stock has continued to rise, gaining nearly 13% to date so far and outperforming the S&P 500 Index (SP500) (SPY) by a factor of 2. However, since my last update, the stock has entered its volatile phase, becoming an underperformer ...

Prominent billionaires are dumping shares of the "brains" behind artificial intelligence (AI)-driven data centers in favor of two AI stocks that have announced or completed stock splits in 2024.Since the advent of the internet in the mid-1990s, investors have pretty much always had a next-big-thing innovation, technology, or trend to captivate their attention. However, no addressable market has seemingly loomed larger since the arrival of the internet than the current rise of artificial intelligence (AI).Wh ...

Broadcom (AVGO) is set to report its third-quarter fiscal 2024 results on Sep. 5.The Zacks Consensus Estimate for revenues is pegged at $12.9 billion, suggesting growth of 45.36% from the year-ago quarter’s reported figure.The consensus mark for earnings has been steady at $1.20 per share over the past 30 days, indicating 14.29% growth from the figure reported in the year-ago quarter.Broadcom’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average earnings surprise being ...

JHVEPhotoBroadcom (NASDAQ:AVGO) will report its fiscal third quarter earnings after the market closes on Sept. 5. Analysts are forecasting a 15% y/y increase in earnings per share to $1.22, alongside a significant 46% y/y growth in revenue, bringing the total to approximately $13 billion. However, it’s important to note that the growth in Broadcom’s Semiconductor Solutions segment is expected to be relatively modest, with an anticipated increase of just 7% y/y, reaching $7.4 billion. The company’s AI seg ...

Key TakeawaysSemiconductor maker Broadcom is set to report its latest quarterly results after Thursday's closing bell.Wall Street analysts are broadly bullish on the stock heading into the report.The consensus price target on the stock is currently near $200, according to Visible Alpha. Semiconductor maker Broadcom’s (AVGO) latest financial results, due Thursday after the closing bell, could highlight the week’s most anticipated corporate events. The numbers are set to land with the stock up nearly 40% this ...

Key TakeawaysBroadcom shares may see heightened volatility this week, with the chipmaker slated to release its fiscal third-quarter earnings report after the closing bell on Thursday.Investors will likely be scrutinizing the company’s AI sales growth and full-year outlook, which have benefited in recent quarters from growing demand for its custom AI chips.Broadcom shares reclaimed the 50-day moving average last month after a steep correction, through the recovery has occurred on decreasing volumes, indicati ...

Marvell Technology Inc. MRVL has emerged as a standout performer in the semiconductor sector, outpacing heavyweight rivals Nvidia Corp. NVDA and Broadcom Inc. AVGO throughout Aug. 2024. Chart created using Benzinga ProWhile Marvell stock surged an impressive 18.53% last month, Broadcom and Nvidia followed with gains of 9.84% and 9.39%, respectively. This outperformance has caught the attention of investors looking to capitalize on growth opportunities within the semiconductor industry.Marvell’s Strong Marke ...

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Broadcom Inc. (AVGO) .Broadcom Inc. currently has an average brok ...