Broadcom Inc (NASDAQ: AVGO) is gaining in extended trading on Wednesday after coming in handily above Street estimates for its fiscal second quarter on strong AI demand. This is a developing story.
Broadcom is scheduled to report earnings after Wednesday's close. The stock just hit a record high of $1505.80 and is currently trading near that level.
Broadcom Inc. AVGO is set to release second-quarter financial results, after the closing bell on Wednesday.
Broadcom is an excellent opportunity to ride the AI future outside of GPUs. It is unique in its aggregation of firms - it has a high-value semiconductor business and a sticky SaaS business. There is a tremendous amount of operating efficiency in their business.
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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.
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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.