Why Broadcom Stock Was on the Rebound Today
After sliding yesterday on a report by the tech news website The Information that Broadcom (NASDAQ: AVGO) could lose Alphabet's(NASDAQ: GOOG) (NASDAQ: GOOGL) Google as a customer for its AI chips, the company's shares were bouncing back today as multiple sources pushed back on that idea.
As a result, Broadcom stock finished Friday up 2.6%, essentially recouping all of its losses from yesterday.
Several Wall Street analysts questioned the notion that Google would ditch Broadcom as its tensor processing unit supplier. Truist called such a move "possible, but not likely" saying the report was more likely a price negotiation tactic and that Broadcom has substantial intellectual property and expertise.
Source Fool.com
Broadcom Ltd. Stock
€369.75
1.370%
The stock is an absolute favorite of our community with 82 Buy predictions and no Sell predictions.
As a result the target price of 404 € shows a slightly positive potential of 9.26% compared to the current price of 369.75 € for Broadcom Ltd..
