Why Broadcom Stock Blasted Higher on Thursday
Broadcom(AVGO) The Motley Fool·2024-06-13 15:51The semiconductor and networking specialist got a big boost from artificial intelligence (AI) and a stock split.Shares of Broadcom (AVGO 13.54%) surged higher on Thursday, jumping as much as 16.1%. As of 11:41 a.m. ET, the stock was still up 13.2%.The catalyst that sent the semiconductor specialist higher was robust artificial intelligence (AI) results and a stock split.A big boost from AIIn the second quarter, Broadcom generated revenue that rose 43% year over year to $12.5 billion, driving adjusted earnin ...