Reported 7 months ago
Broadcom's stock soared over 15% in early trading after reporting robust Q2 results, reaching all-time highs. The semiconductor giant's Q2 sales of $12.48 billion, a 43% increase from the previous quarter, exceeded estimates, driven by AI revenue of $3.1 billion. Broadcom also raised its full-year revenue guidance for fiscal 2024, expecting continued strength in AI. Additionally, the company announced a 10-1 stock split to increase accessibility to retail investors and employees. With a Zacks Rank #2 (Buy), Broadcom's stock shows promise amidst its strong performance and optimistic outlook.
Source: YAHOO