Broadcom Stock Outlook: Why AI Boom and VMWare Deal Spell Big Gains Ahead

Broadcom’s (NASDAQ:AVGO) stock is an optimistic buy in line with high AI and networking capabilities. In fiscal Q2 2024, Broadcom had net revenue of $12.5 billion, a 43% year-over-year (YOY) increase. Excluding VMware, Broadcom’s revenue grew by 12%, primarily due to a 280% surge in AI revenue.Next year, Broadcom’s AI and networking revenue may grow 40% year-on-year, with seven of the largest eight AI clusters using Broadcom Ethernet solutions. The company anticipates all mega-scale GPU deployments will be ...