Reported 7 months ago
Bank of America has identified Broadcom as a potential member of the trillion-dollar market cap club, citing the chipmaker's impressive quarterly earnings, strong sales, debt reduction, and successful acquisitions. After an 18% stock price increase following its earnings release and a stock split announcement, Bank of America raised Broadcom's price target to $2,000, emphasizing its growth in custom AI chips, Ethernet networking, and VMware upsell. The bank predicts Broadcom's sales to reach $59.9 billion by fiscal year 2025, potentially positioning the company alongside other trillion-dollar giants like Nvidia, Microsoft, and Apple.
Source: YAHOO