Broadcom Shares Hit a Record High on Surging Revenue and an Announced Stock Split. Is It Too Late to Buy the Stock?
Share prices of (NASDAQ: AVGO) hit record highs after news came out that revenue surged in the chipmaker's fiscal second quarter and that the company will be executing a stock split. Broadcom's stock price has now more than doubled over the past year.
Let's take a look a the company's most recent quarterly results and whether or not it is too late to buy the stock.
For fiscal 2024's second quarter (ended May 5), Broadcom's revenue climbed 43% year over year to $12.5 billion. Excluding its VMware segment, revenue rose 12%. Broadcom completed its $69 billion acquisition of VMware last November. AI revenue surged 280% year over year to $3.1 billion. Semiconductor solutions revenue rose 6% year over year to $7.2 billion. Networking revenue soared 44% to $3.8 billion, while wireless revenue edged up 2% to $1.6 billion.
Source Fool.com
Broadcom Ltd. Stock
The stock is an absolute favorite of our community with 83 Buy predictions and no Sell predictions.
As a result the target price of 1750 € shows a slightly positive potential of 11.38% compared to the current price of 1571.2 € for Broadcom Ltd..
