Broadcom Inc.’s Stock Price Skyrockets to $183.20, Experiencing a Robust 6.63% Gain

Broadcom Inc. (AVGO)

183.20 USD +11.39 (+6.63%) Volume: 40.56M

Broadcom Inc.’s stock price soars to 183.20 USD, witnessing a significant trading session increase of +6.63%, driven by a hefty trading volume of 40.56M. The tech giant continues to impress investors with a remarkable YTD increase of +65.15%, further solidifying its robust market performance.

Latest developments on Broadcom Inc.

Recent developments indicate a surge in Broadcom stock price as Apple collaborates with the company to develop an AI server chip, propelling Broadcom to new processing heights with stacked die and face-to-face chiplets. Analysts have reset Broadcom’s stock price target ahead of earnings, while reports suggest that Apple’s first in-house AI server chip, codenamed “Baltra,” will be developed with Broadcom’s assistance. This partnership has led to a significant increase in Broadcom’s stock price, nearing a buy point and sparking investor interest in the game-changing chip collaboration between Apple and Broadcom.

Broadcom Inc. on Smartkarma

Analysts at Baptista Research on Smartkarma are bullish on Broadcom Inc., noting the company’s strong fiscal third-quarter performance in 2024. With a consolidated net revenue of $13.1 billion, a 47% increase from the previous year, Broadcom’s growth in AI revenue, accelerated bookings at VMware, and stability in non-AI semiconductor revenue were highlighted as key factors driving this success.

In another report by Uttkarsh Kohli on Smartkarma, despite Broadcom surpassing Q3 earnings estimates with revenue reaching $13.07 billion and EPS at $1.24, the company’s shares dropped 7% due to weaker Q4 revenue guidance. The report also mentioned a $1.88 billion net loss, influenced by a $4.5 billion tax provision. Although AI revenue is projected to grow by 10% sequentially in Q4, exceeding $3.5 billion, Broadcom’s Q4 revenue guidance of $14 billion fell short of analyst expectations, leading to the post-earnings share drop.

A look at Broadcom Inc. Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Based on the Smartkarma Smart Scores, Broadcom has a positive outlook for the long term. The company scores high in Dividend and Momentum, indicating strong potential for growth and stability in the future. With a solid score in Growth as well, Broadcom is positioned to continue expanding its market presence and increasing its revenue. However, the company scores lower in Value and Resilience, suggesting some areas for improvement to enhance its overall performance.

Broadcom Inc. is a semiconductor and infrastructure software solutions company that designs, develops, and supplies a wide range of products to modernize and secure complex hybrid environments. With a strong focus on networking processors, storage adapters, and security software, Broadcom caters to customers globally. The company’s high scores in Dividend and Momentum reflect its ability to provide consistent returns to investors and maintain strong market momentum for future growth.

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