From Nasdaq: 2024-06-13 16:19:00

Broadcom (AVGO) stock hits all-time highs with over 15% spike in early trading after impressive Q2 results, fueled by AI revenue of $3.1 billion and EPS of $10.96. The company raises full-year revenue guidance to $51 billion for FY24 and expects another 13% increase in FY25.

Broadcom announces a 10-1 stock split, following Nvidia, to make ownership more accessible. The stock, currently over $1,600, has surged 50% YTD but trails Nvidia’s 159% increase. The company’s stock, sporting a Zacks Rank #2 (Buy), shows an attractive outlook post Q2 results boosted by AI.

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Read more at Nasdaq: Time to Buy Broadcom’s (AVGO) Stock After Strong Q2 Results?