Why Broadcom Was Moving Higher Today
Shares of (NASDAQ: AVGO) rallied 4.2% on Tuesday, as of 1 p.m. ET.
Semiconductors were broadly higher, based on new data that confirmed strong growth in the sector. In addition, one Wall Street sell-side analyst wrote a very positive note on Broadcom specifically, and the outlook for its custom artificial intelligence (AI) ASICs.
Today, research firm Counterpoint Research released its final data for the semiconductor foundry industry's first quarter of 2025. Counterpoint's data showed a solid 13% increase in foundry revenue, which the firm noted was powered by artificial intelligence chips, especially those made by Taiwan Semiconductor Manufacturing.
Source Fool.com
Broadcom Ltd. Stock
€306.70
-11.700%
The stock is one of the favorites of our community with 94 Buy predictions and 2 Sell predictions.
As a result the target price of 342 € shows a slightly positive potential of 11.51% compared to the current price of 306.7 € for Broadcom Ltd..
