Broadcom’s stock has been on a roll in 2023, attracting attention from investors like Jim Cramer and Nancy Pelosi. The company’s AI revenue and strong results are fueling its growth, but some investors are hesitant due to a recent dip after earnings. This article examines the current state of Broadcom’s stock, its potential for future growth, and the factors influencing its trajectory.
Broadcom, a major supplier to Apple, exceeded revenue expectations driven by strong infrastructure solutions, particularly fueled by the acquisition of VMware. The company also highlighted its significant role in the AI infrastructure, supplying custom chips for Google’s TPU and Apple’s AI training initiatives. However, semiconductor solutions fell short of estimates, signaling a potential shift in the AI chip landscape.
Despite strong third-quarter earnings that exceeded market expectations, Broadcom Inc. (AVGO) shares experienced a significant sell-off on Friday. The company’s robust performance was fueled by demand for AI semiconductor solutions and contributions from VMware, but some analysts believe the company’s guidance could have been more aggressive, prompting market caution.
Broadcom Inc. (AVGO) reported strong third-quarter earnings, exceeding both revenue and earnings per share expectations. This growth is driven by its thriving AI semiconductor segment and the successful integration of VMware. Despite the positive results, the stock dipped in premarket trading. However, JPMorgan analyst Harlan Sur remains bullish, raising the price target to $210 by 2025, citing the company’s strong growth trajectory. Broadcom’s AI business is projected to grow at a 30%-40% CAGR over the next few years, while its non-AI semiconductor business is also experiencing a rebound.
Broadcom Inc. (AVGO) reported strong third-quarter earnings, exceeding analyst expectations on both revenue and earnings per share. The company’s performance was fueled by robust demand for AI semiconductor solutions, particularly in Ethernet networking and custom accelerators for AI data centers. Broadcom anticipates continued growth in the coming quarter.
Broadcom (AVGO) is set to report its third-quarter fiscal 2024 results on September 5th, with analysts expecting strong revenue growth driven by AI and Generative AI (GenAI) offerings. However, concerns remain about potential weakness in enterprise and telecommunication markets, which could impact the company’s performance.
Broadcom (AVGO) has seen impressive share growth this year, driven by its focus on expanding cloud offerings. While this strategy shows promise, the stock’s valuation and increasing competition might make investors cautious.
On CNBC’s “Mad Money Lightning Round,” Jim Cramer recommended selling Petróleo Brasileiro S.A. – Petrobras (PBR) and buying Enterprise Products Partners L.P. (EPD), Recursion Pharmaceuticals, Inc. (RXRX), Casey’s General Stores, Inc. (CASY), and Broadcom Inc. (AVGO). Cramer called Cheniere Energy, Inc. (LNG) “terrific.” Price action: PBR rose 0.1%, EPD fell 0.3%, CASY fell 0.1%, RXRX rose 1.3%, LNG fell 1%, and AVGO gained 2%.
