Broadcom (NASDAQ: AVGO) stock price has gone parabolic since the company published encouraging financial results last week. It soared to a high of $1,828 on Monday, pushing its market cap to over $807 billion.
Broadcom Inc.'s stock is getting a big boost in Monday's session, one that could further its climb up the ranks of the largest U.S. companies.
It may not be the news that Tesla (NASDAQ: TSLA ) CEO Elon Musk wants to hear, but Interactive Brokers Chief Strategist Steve Sosnick believes semiconductor and infrastructure specialist Broadcom (NASDAQ: AVGO ) should replace TSLA on the list of so-called “Magnificent Seven” stocks. Earlier today, Sosnick placed great emphasis on the ability to leverage artificial intelligence (AI) as a compelling argument for Broadcom stock.
Shares of semiconductor maker Broadcom (AVGO) continued rising Monday, setting a fresh record high and extending a stretch that began with last week's earnings report, which included the announcement of a 10-for-1 stock split set to take effect next month.
Over its current seven-day streak in the green, Broadcom has snapped up market value that is around the equivalent to McDonald's.
Robust results and a high-profile stock split caught Wall Street off guard. Analysts have been scrambling to update their price targets in the wake of Broadcom's strong performance.
Examine Broadcom Inc.'s (AVGO) international revenue patterns and their implications on Wall Street's forecasts and the prospective trajectory of the stock.
Recently, Zacks.com users have been paying close attention to Broadcom Inc. (AVGO). This makes it worthwhile to examine what the stock has in store.
Broadcom stock investors have more to consider than the pending stock split.
Broadcom Inc. (NASDAQ) is not only holding its position in the datacenter and AI Ethernet switching market but is also making significant strides forward. With its stock currently trading at $1,735.04, Broadcom is expected to achieve notable gains, targeting a price of $2,000 by December, according to JPMorgan.
After Nvidia soared on its stock split announcement, investors are reacting favorably to Broadcom's. Broadcom is gaining traction with AI demand for networking and custom chips.
Broadcom announced a 10-for-1 stock split in its Q2 earnings report. Stock splits don't alter a stock's intrinsic value.