Reported 2 days ago
Broadcom's stock surged more than 8% in premarket trading following a strong quarterly earnings report that exceeded analysts' expectations, driven by a remarkable 77% increase in AI chip sales. The company's revenue grew 25% year-over-year to $14.92 billion, and Citigroup maintained a buy rating with a price target of $220, citing strong AI demand as a buffer against potential losses from sanctions on TikTok's parent company and Apple RF chip business.
Source: YAHOO