Why Broadcom Was Moving Higher Today
Shares of (NASDAQ: AVGO) rallied 4.2% on Tuesday, as of 1 p.m. ET.
Semiconductors were broadly higher, based on new data that confirmed strong growth in the sector. In addition, one Wall Street sell-side analyst wrote a very positive note on Broadcom specifically, and the outlook for its custom artificial intelligence (AI) ASICs.
Today, research firm Counterpoint Research released its final data for the semiconductor foundry industry's first quarter of 2025. Counterpoint's data showed a solid 13% increase in foundry revenue, which the firm noted was powered by artificial intelligence chips, especially those made by Taiwan Semiconductor Manufacturing.
Source Fool.com
Broadcom Ltd. Stock
€231.50
-1.540%
With 78 Buy predictions and not a single Sell prediction Broadcom Ltd. is an absolute favorite of our community.
With a target price of 246 € there is a slightly positive potential of 6.26% for Broadcom Ltd. compared to the current price of 231.5 €.
