Broadcom Stock News

Nvidia (NVDA 0.87%) and Broadcom (AVGO 0.71%) are the leading players in the artificial intelligence (AI) semiconductor space, with both chip designers being the dominant forces in their respective niches.

Broadcom (AVGO 0.76%) revealed must-know insights during a conference call with Wall Street analysts.

Broadcom stock, bolstered by solid institutional demand, has etched a new breakout.

Broadcom stock price has surged by over 80% from its lowest point in April as most companies in the artificial intelligence sector rebounded. AVGP was trading at $250 on Tuesday, a few points below the all-time high of $265.

The magnificent seven, a group of stocks containing Alphabet (parent company of Google), Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla, have been the main drivers of market returns in the last couple of years. However, a new company has emerged in this group of top companies.

Broadcom Inc.'s XPU/ networking/ SaaS prospects remain extremely bright, as observed in the expanding hyperscaler partnerships and the accelerated AI deployment. These have contributed to its growing top/ bottom-lines, with further expansion at high double digits likely based on the management's promising commentaries. On the other hand, it goes without saying AVGO's robust results have seeming...

Broadcom (AVGO -1.09%) isn't the first company that comes to investors' minds when discussing mission-critical suppliers to the AI arms race. Companies like Nvidia and Taiwan Semiconductor Manufacturing are often mentioned, but Broadcom hovers in the background.

Broadcom has rallied sharply on AI momentum, but the current valuation is historically high and less attractive than in March. Recent earnings and guidance were strong, especially in AI and networking, but market expectations had become excessive, leading to a post-earnings pullback. Compared to peers like Nvidia and AMD, Broadcom trades at a premium despite a large portion of revenue from lega...