From Nasdaq: 2024-06-13 11:59:00

Broadcom reported strong Q2 fiscal 2024 results, beating earnings and revenue estimates, and offering a positive annual forecast due to strong demand for AI products. The chipmaker also announced a 10-for-1 stock split, causing shares to soar. Investors can consider ETFs like HACK, TRFK, SOXQ, IETC, and TDIV with significant exposure to Broadcom.

Broadcom’s earnings per share stood at $10.96, exceeding expectations, with revenue growing 43% year-over-year to $12.5 billion. The company’s partnership with Google for AI chips has been beneficial. Broadcom expects fiscal 2024 revenue of about $51 billion, setting a positive outlook for the company.

The 10-to-1 stock split announced by Broadcom aims to attract individual investors and make the stock more accessible. The move is expected to bring in new investors interested in small trades. This strategy is similar to what NVIDIA recently implemented, aiming to broaden shareholder base and enhance stock affordability.

ETFs like HACK, TRFK, SOXQ, IETC, and TDIV offer investors exposure to companies like Broadcom. These ETFs have significant holdings in Broadcom, with some enjoying rank #1 (Strong Buy). Investors can benefit from Broadcom’s growth story by considering these ETFs with a broad range of cybersecurity, data, digital revolution, and tech-focused securities.



Read more at Nasdaq: Broadcom Jumps on Q2 Earnings Beat: ETFs to Buy