Broadcom (AVGO) stock jumps 6% as JPMorgan dismisses Google TPU delay rumors and projects massive AI revenue growth through 2031.
Broadcom Inc.
(NASDAQ:AVGO) stock jumped nearly 6% on Wednesday after a bullish analyst note eased concerns about the company's long-term artificial intelligence chip business and renewed investor interest in AI-related semiconductor stocks.
The broader technology sector also supported sentiment.
The Technology Select Sector SPDR Fund (NYSE:XLK) gained 1.21%, while the Nasdaq Composite rose 0.40%.
The S&P 500 was little changed.
Broadcom (AVGO) reports earnings June 3 with revenue expected to hit $22.08B. Is the stock a buy at its current premium valuation?
Broadcom's AI revenue surges 143% to $10.8B in Q2. The chipmaker projects AI revenue to exceed $100B by 2027.
Broadcom's AI outlook sparked a sell-off, but its long-term uptrend holds. Is $AVGO a buy at its 50-day moving average?
Broadcom (AVGO) stock climbs 3% as investors rotate back into semiconductor leaders. Is the bullish momentum rebuilding? Find out…
Wall Street remains bullish on Broadcom (AVGO) ahead of earnings, with Wells Fargo, TD Cowen, and UBS lifting price targets.
Broadcom's AI chip sales are growing rapidly, with a projected $40 billion in revenue this fiscal year and a $73 billion backlog.
