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Broadcom surges to a record after earnings. 3 reasons why the stock can go even higher

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After a strong earnings report Wednesday night, we see three main reasons why Broadcom's stock can go even higher.

Broadcom surged more than 12% to a record high Thursday following an excellent fiscal second-quarter earnings report on Wednesday night . Here are three reasons why the chip stock should keep moving higher. 1. AI data center demand shows no signs of letting up Behind Nvidia , Broadcom is our second favorite way to invest in the artificial intelligence boom , and that part of the company's business is poised for more growth ahead.

mountain Broadcom's stock performance over the past 12 months. 2. The cyclical legacy business is bottoming While Broadcom's AI-related sales are on fire, its legacy hardware business — wireless, server and storage connective, broadband, and industrial — has been in the house of pain for quite some time, including in Wednesday's report.

 

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