Why Stock-Split and Artificial Intelligence (AI) Stock Broadcom Blasted Higher on Friday
Shares of (NASDAQ: AVGO) charged sharply higher on Friday, jumping as much as 22.7%. As of 10:35 a.m. ET, the stock was still up 21.5%.
The catalyst that sent the artificial intelligence (AI) specialist higher was Broadcom's strong financial results, fueled by robust demand for AI.
For its fiscal 2024 fourth quarter (ended Nov. 3), Broadcom generated revenue that surged 51% year over year to $14 billion. This fueled adjusted earnings per share (EPS) that jumped 31% to $1.42.
Source Fool.com
Broadcom Ltd. Stock
€218.40
1.390%
The stock is an absolute favorite of our community with 77 Buy predictions and no Sell predictions.
As a result the target price of 241 € shows a slightly positive potential of 10.35% compared to the current price of 218.4 € for Broadcom Ltd..
