Broadcom surges to a record after earnings. 3 reasons why the 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.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Broadcom beats earnings estimates, announces 10-for-1 stock splitBroadcom posted earnings for the second fiscal quarter on Wednesday that beat analyst estimates. It also announced a 10-1 stock split, set to begin trading on a…
Source: nbcchicago - 🏆 545. / 51 Read more »

Broadcom shares surge on earnings beat, increased demand for AI productsBroadcom shares surged Thursday after the company beat earnings and revenue estimates for the second quarter.
Source: CNBC - 🏆 12. / 72 Read more »

Broadcom shares surge on earnings beat, increased demand for AI productsBroadcom shares surged Thursday after the company beat earnings and revenue estimates for the second quarter.
Source: NBCNewYork - 🏆 270. / 63 Read more »

Stocks making the biggest moves midday: Broadcom, Signet, Dave & Buster's and moreThese are the stocks posting the largest moves in midday trading.
Source: CNBC - 🏆 12. / 72 Read more »