Broadcom Inc. AVGO is set to release second-quarter financial results, after the closing bell on Wednesday.
Artificial intelligence has played a large part in the current market rally. Wall Street is revising its outlook on a couple of AI-related semiconductor stocks.
Broadcom's (AVGO) fiscal second-quarter 2024 results are likely to reflect the benefits of a strong AI portfolio and expanding clientele.
Broadcom Inc (NASDAQ:AVGO, ETR:1YD) reports second-quarter earnings on June 12 with comment from the chipmaker about artificial intelligence and completion from NVIDIA key to how markets react. Strength from AI demand and the company's 2022 acquisition VMWare are expected to overcome the drag from legacy businesses, analysts at Bank of America reckon.
Nvidia has been the prime beneficiary of surging demand for AI-focused chips. But two competitors have enjoyed similar tailwinds, and both are more diversified.
The Oracle of Omaha has earned himself quite the following after delivering a nearly 5,000,000% gain in Berkshire Hathaway's Class A stock (BRK.A) since taking over as CEO. Thanks to an acquisition 26 years ago, Buffett's company has an under-the-radar $646 million portfolio that contains 90 securities.
Broadcom's leading position in the market for custom AI chips puts it in a solid position to capitalize on a lucrative opportunity. Marvell Technology is a smaller player compared to Broadcom, but it has an advantage up its sleeve.
Broadcom is scheduled to give a huge investor update that will have implications for shareholders.
Nvidia's high-profile stock split is the result of years of robust operational and financial performance. Broadcom has a deep library of semiconductors and infrastructure software products that are key components of the AI ecosystem.
Broadcom's strength in networking chips should help it capitalize on growth in AI. One analyst called it a must-own AI stock.
The S&P 500 touches a record high for the 25th time this year, powered by technology stocks. We have highlighted five technology stocks, HPE, MRNA, AVGO, MU and LRCX, leading the way higher in the latest trading session.
Broadcom (AVGO) is set to report second-quarter earnings for fiscal 2024 after the bell on Wednesday, June 12, with investors likely watching for revenue growth driven by artificial intelligence (AI), as well as any updates on Broadcom's custom AI chip products for big tech customers.