Here's Why Broadcom Stock Is Soaring This Week

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 ...