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. Stock
€147.70
2.100%
The stock is an absolute favorite of our community with 68 Buy predictions and no Sell predictions.
Based on the current price of 147.7 € the target price of 1384 € shows a potential of 837.03% for Broadcom Ltd. which would more than double the current price.
