From Stock News Today:

1. Shares of Broadcom (NASDAQ:AVGO) surged 5.7% after Goldman Sachs analyst Toshiya Hari reiterated a Buy rating and set a $1325 price target, citing anticipated growth in AI-related businesses and a cyclical recovery in the semiconductor industry.

2. The S&P 500 and Nasdaq indexes reached all-time highs, with the Nasdaq gaining 1.5% as the new earnings season begins, signaling potential recovery for semiconductor stocks. Taiwan Semiconductor Manufacturing reported strong Q4’2023 results and expects revenue to grow by low-to-mid 20% in 2024.

3. Broadcom’s shares are somewhat volatile, and the market is reacting to the news without fundamentally changing its perception of the business. Stock has experienced significant moves in the past, gaining 8.5% 8 months ago.

4. Broadcom is up 11.5% since the beginning of the year, and investors who bought $1,000 worth of shares 5 years ago would now have an investment worth $4,686.



Read more: Why Broadcom (AVGO) Stock Is Trading Up Today