During June and July, things got a bit overheated with Broadcom (NASDAQ: AVGO ) shares. Prior to its July 15 ten-for-one stock split, Broadcom stock was trading at around $175 per share.
Nvidia and Broadcom recently completed 10-for-1 stock splits to make shares more affordable in the wake of tremendous price appreciation. Historically, stocks have produced an average return of 25% during the 12-month period after a stock split announcement.
TD Cowen adjusted its price target to $210 following the company's recent stock split, implying upside of 35%. Broadcom's infrastructure technology products benefit from the growing demand for AI solutions in the data center market.
High-growth tech stocks pushed the S&P 500 and NASDAQ to new heights over the past couple of years. AI-driven results set the stock market on fire, with the leading tech giants dazzling with stunning earnings.
Voice-based communications with computers is pretty basic. SoundHound AI allows this communication to be more complex as well as more interactive.
Broadcom reported strong quarterly sales, which it attributed to AI applications. Broadcom rose along with other semidconductor stocks that were benefiting from the AI demand boost.
Comprising 5% of my portfolio, Broadcom is my portfolio's largest holding. The company's net revenue and adjusted diluted EPS surged higher in its fiscal second quarter. Broadcom's debt load is manageable and further buoyed by exceptional profitability and growth prospects.
Beginning with Monday's opening bell, Broadcom (NASDAQ: AVGO ) stock began trading at its new slimmed-down price of just under $170 a share. Following its 10-for-1 stock split on July 12, the artificial intelligence chipmaker was now available for a more affordable price.
Broadcom just became the latest market giant to launch a stock split, lowering the price of its high-flying shares. The company's revenue has climbed thanks to artificial intelligence demand and a recent acquisition.
The Vanguard Information Technology ETF returned 1,500% over the last 15 years, boosted in part by semiconductor companies Nvidia and Broadcom. The information technology sector was the best-performing market sector during the last 15 years due to investment themes like cloud computing and mobile devices.
Broadcom stock has risen because of its status at the top maker of application-specific integrated circuits, or ASICs, for AI jobs.
Semiconductor stalwart Broadcom (NASDAQ: AVGO ) finally started to see some weakness hit its otherwise incredible market performance. Following news that CEO Hock Tan offloaded 7,502 shares of AVGO stock, the high-flying equity dipped conspicuously.