Broadcom (NASDAQ:AVGO) stock continued its strong bull run last week, reaching a new record high, helped by the recent strong earnings by some of the top players in the artificial intelligence industry like Dell (NASDAQ:DELL) and Marvell Technology (NASDAQ:MRVL). It has jumped by 55% from its lowest point this year.
Broadcom Stock is Expensive Ahead of Earnings
AVGO stock has been in a prolonged bull market that has brought its market capitalization to over $3.1 trillion dollars. It has soared by over 850% in the last five years and by 27% this year.
This growth happened as the company's revenues surged both organically and through its acquisitions. It acquired CA Technologies in a $18.9 billion deal, and Symantec for $10.7 billion. Its biggest buyout happened in 2021 when it paid $61 billion for VMware.
Broadcom will publish its financial results this week, providing more color about its business. These numbers come at a time when its valuation multiples have remained at an elevated level.
