Why Broadcom Rallied Today
Shares of (NASDAQ: AVGO) rallied on Monday, up 3.6% as of 12:20 p.m. ET. The move was all the more notable since the stock rallied 9.4% last Friday, following last Thursday's earnings release.
Broadcom has become a massive AI winner due to its custom ASIC (application-specific integrated chip) business, which several large cloud and AI companies are using to aid their in-house designed AI chip efforts. On the back of Thursday's announcement that Broadcom had landed a new large ASIC customer, analysts are raising their price targets on the stock today... while also downgrading a big competitor.
On the heels of CEO Hock Tan's announcement that Broadcom had landed a fourth major AI ASIC customer with a $10 billion order, The Wall Street Journal later confirmed the new customer is OpenAI, the parent company of ChatGPT.
Source Fool.com
Broadcom Ltd. Aktie
Die Broadcom Ltd. Aktie genießt hohe Beliebtheit: Mehr Buy- (91) als Sell-Einschätzungen (1).
Ein Kursziel von 318 € für Broadcom Ltd. signalisiert ein leicht positives Potenzial gegenüber dem aktuellen Kurs von 269.85 €.
