Why Broadcom Stock Blasted Higher on Thursday
Shares of (NASDAQ: AVGO) 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.
In the second quarter, Broadcom generated revenue that rose 43% year over year to $12.5 billion, driving adjusted earnings per share (EPS) to $10.96, an increase of 6%. The company noted that the results got a boost from AI, as hyperscale cloud customers continued to upgrade to next-generation technology capable of powering AI.
Source Fool.com
Broadcom Ltd. Aktie
369,75 €
1,37 %
Klares Signal: Broadcom Ltd. wird ausschließlich zum Kauf empfohlen.
Ein Kursziel von 404 € für Broadcom Ltd. zeigt ein leicht positives Potenzial im Vergleich zum aktuellen Kurs von 369.75 €.
