Reported over 1 year ago
According to MarketWatch on June 18, 2024, Broadcom's stock price surged, leading to a significant increase in the chipmaker's market value, surpassing Eli Lilly to become the eighth largest company in the US. Analysts have been bullish on Broadcom recently, with Harsh Kumar from Piper Sandler and Ben Reitzes from Melius Research highlighting the company's strong position in the customized ASIC field and substantial growth in AI revenue. The company's market value has been boosted in part by its acquisition of cloud service provider VMware, along with a continuous seven-day surge in stock prices.
Source: YAHOO