Broadcom's Symantec passes Australian assessment, strong growth in AI solutions

From Nasdaq: 2024-06-19 11:18:00

Broadcom’s Symantec cybersecurity solutions have passed the Australian IRAP assessment, meeting high security standards. With rising cyber threats like LockBit ransomware, these solutions are crucial for protecting sensitive info. Broadcom benefits from AI infrastructure demand, with strong growth in AI sales. Revenues for fiscal 2024 expected to reach $50 billion. AVGO also sees strong partnerships with tech giants like Alphabet and Meta Platforms.

Symantec’s portfolio includes robust security solutions like Symantec Endpoint Security, Network Protection, and DLP Cloud. Broadcom’s AI solutions cater to increasing AI workloads. Revenue guidance for fiscal 2024 raised to $50 billion, with adjusted EBITDA margin of 61%. AVGO’s ASICs are used by major customers like Alphabet and Meta Platforms. NVDA, with a Zacks Rank #1, outperforms in the tech sector.

NVDA and AVGO stock performance compared, with NVDA showing 173.8% year-to-date growth. Broadcom’s Zacks Rank #3 reflects its steady performance. NVDA’s long-term earnings growth predicted at 37.57%. For dividend stocks, Zacks recommends 5 companies with strong fundamentals and a history of raising dividends. NVDA and AVGO are two companies analyzed for free on Zacks.com.



Read more at Nasdaq: Broadcom’s (AVGO) Symantec Completes Australian Assessment