Wall Street analysts are boosting their price targets ahead of Broadcom's high-profile stock split.There's no getting around the impact of artificial intelligence (AI) in tech circles since early last year, and Broadcom (AVGO 12.27%) is a key player in the space. The company's semiconductors and data center infrastructure play a critical part in the AI ecosystem, which has lit a fire under the stock. Its price has nearly doubled over the past year, resulting in a high-profile stock split.In the wake of Broa ...

JHVEPhoto I had a "Sell" rating for Broadcom Inc. (NASDAQ:AVGO) in my previous report, highlighting its strong growth in the AI semiconductor business and the issue of holding numerous legacy software businesses. The company released its fiscal Q2 FY24 results on June 12th with the AI business growing by 280% year-over-year. The company anticipates its AI revenue will reach 25% of group revenue by FY24. I appreciate Broadcom's position in the AI networking and storage markets; however; I am not comfortable ...

Key TakeawaysThe S&P 500 added 0.2% on Thursday, June 13, 2024, extending its string of record closes as the latest producer price index data reaffirmed a cooldown in inflation.Broadcom shares soared after the chipmaker topped quarterly sales estimates, citing strong demand for AI products. Shares of Paramount Global tumbled amid reports that its controlling stakeholder ended merger negotiations with Skydance Media. The S&P 500 and Nasdaq Composite extended their winning streaks Thursday after another infla ...

Spiking over +15% in early morning trading, Broadcom’s (AVGO)  stock hit all-time highs today as AI helped the semiconductor titan post stellar growth for its fiscal second quarter.After reporting impressive Q2 results Wednesday evening, let’s see if now is a good time to buy Broadcom’s stock.Q2 Review Broadcom’s Q2 sales of $12.48 billion soared 43% from $8.73 billion in the comparative quarter, beating estimates of $12.04 billion by 4%. The top line expansion was attributed to AI revenue of $3.1 billion w ...

Broadcom (NASDAQ:AVGO) stock is up big today after one Bank of America analyst pegged the chipmaker as the next trillion-dollar stock. Indeed, according to BofA’s Vivek Arya, Broadcom has a path to “join the trillionaires club.”BofA raised its price target for AVGO stock on Thursday to $2,000 per share from $1,680 while maintaining its “buy” rating. At its current share price of around $1,680, this represents nearly 20% upside.At a market capitalization of over $770 billion, Broadcom is just behind the gian ...

Broadcom is following Nvidia's footsteps in more than one way.Broadcom (AVGO 12.72%) stock has been riding the tech wave higher all year. But shares broke out this week after the company released fiscal 2024 second-quarter results. The stock has surged this week by about 20% as of Thursday afternoon trading, according to data provided by S&P Global Market Intelligence.That has led to a more than 50% gain in Broadcom stock so far this year. Shareholders can thank both the artificial intelligence (AI) boom as ...

Semiconductor and infrastructure software specialist Broadcom (NASDAQ:AVGO) is seeing shares soar on Thursday. Yesterday, management released its earnings report for the quarter ended May 5 to much fanfare, beating on both the top and bottom lines. Further, an upcoming share split should make AVGO stock more accessible to investors. The timing couldn’t be better amid the artificial intelligence (AI) gold rush.According to CNBC, Broadcom posted adjusted EPS of $10.96 per share, which easily beat the consensu ...

The artificial intelligence boom is reshaping the technology landscape as industry giants Broadcom, Oracle and Samsung make moves to capitalize on the demand for AI chips and cloud computing resources.From soaring stock prices to ambitious sales targets and chip technologies, these companies are positioning themselves to be key players in the evolving AI market.Broadcom’s Stock Surges on AI Chip Demand, Stock SplitBroadcom’s shares skyrocketed Thursday (June 13) after the chip maker delivered a rosy annual ...

Loading...Loading...Broadcom Inc AVGO shares were climbing on Thursday, after the company reported upbeat results for its fiscal second quarter.The company reported its quarterly results amid an exciting earnings season. Here are some key analyst takeaways.BofA Securities On BroadcomAnalyst Vivek Arya maintained a Buy rating while raising the price target from $1,680 to $2,000.Broadcom reported a 4% beat on its quarterly sales and raised its full-year sales outlook by $1 billion to $51 billion, Arya said in ...

Broadcom (AVGO) reported strong second-quarter fiscal 2024 results, topping both earnings and revenue estimates and offering an upbeat annual forecast driven by robust demand for artificial intelligence (AI) products. The chipmaker also announced a 10-for-1 stock split, which is set to begin trading on a split-adjusted basis on Jul 15.AVGO shares jumped as much as 14% in after-market trading and are up nearly 14% in the pre-market trade at the time of writing. Investors can tap the robust growth with the he ...