From Nasdaq: 2024-09-19 12:26:00

Broadcom AVGO shares have surged 44.8% YTD, outperforming the sector and industry. Strong demand for networking products and AI solutions drive growth. Acquisition of VMware boosts Infrastructure software. Alphabet and Meta are notable clients. However, shares dipped post-split due to AI chip concerns.

AVGO benefits from AI infrastructure and ASIC demand. Networking revenues grew 43% YoY. Custom AI accelerators and Ethernet solutions drive growth. 400G NICs and DSPs enhance connectivity. VMware acquisition boosts Infrastructure software revenues. Fiscal 2024 AI revenues expected to exceed $12 billion.

AVGO’s AI portfolio and VMware integration drive growth. AI revenues projected to reach $12 billion for fiscal 2024. Consensus estimate indicates strong growth potential. However, earnings estimate shows a downward trend. AVGO stock trades at a premium with a stretched valuation. Zacks Rank #3 suggests waiting for a better entry point.



Read more at Nasdaq: Broadcom Rises 45% Year to Date: How Should You Play AVGO Stock?