Broadcom becomes the ninth US company to achieve a $1 trillion market cap. Broadcom stock surged 21% on Friday after CEO Hock Tan gave bullish guidance. Hock Tan said on earnings call that the custom XPU market could reach $90 billion in three years.
stock reaches an intraday high of $221.21. Broadcom stock surged more than 21% on Friday morning after management estimated on Thursday’s earnings call that the market for customized AI accelerators might reach $90 billion in fiscal year 2027. As a major contributor to customized chips, Broadcom’s shares soared above $215 at the open, rising above a $1 trillion market cap. With 4.67 billion shares outstanding at last count, Broadcom needs roughly a $214.
overtook the 161.8% Fibonacci Extension at $215.86 and has thus far reached an intraday high of $221.21. The next Fibo comes at the 261.8% extension at $234.90. In the meantime, looks overstretchedon the Relative Strength Index . Its overbought reading on the RSI is 78, and 70 is normally the cutoff point for when traders expect a reversal. However, the thrill of being the newest $1 trillion club member should reveal itself in ample buying on any near-term weakness. If any weakness persists, expect prior resistance at $185 to hold.
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