Broadcom: The AI Chipmaker to Watch
Investors increasingly recognize 's (NASDAQ: AVGO) potential to enable generative AI. The company's second-quarter 2023 earnings report, released June 1, beat analysts' consensus estimates for revenue and earnings per share. Additionally, the forecast for third-quarter revenue exceeded analysts' expectations.
The stock reacted positively to this news, rising 3% on June 2 and ending the month of June up 10%. A significant chunk of the company's strong results was due to sales of products that enabled generative artificial intelligence (GenAI).
After the stock's huge run throughout May and June, it is now up 59% year to date. You might question whether investing in the company is viable today, since some analysts believe investors overvalue it and doubt the recent stock price rise's sustainability.
Source Fool.com
Broadcom Ltd. Stock
With 64 Buy predictions and not a single Sell prediction Broadcom Ltd. is an absolute favorite of our community.
With a target price of 1384 € there is potential for a 839.96% increase which would mean more than doubling the current price of 147.24 € for Broadcom Ltd..
