Broadcom saw a 30% surge in shares after strong Q4 results and positive revenue projections

From Nasdaq: 2024-12-16 17:41:00

Broadcom shares surged over 30% following strong Q4 results, with sales up 51% to $14.05 billion. AI revenue tripled to $12.2 billion in FY24. Q1 revenue is projected to increase by 22% to $14.6 billion, with AI revenue expected to jump 65%. AVGO stock trades at a forward P/E of 36.7x.

Despite a Zacks Rank #3 (Hold), Broadcom’s stock has soared over 100% this year and is challenging Nvidia’s market dominance. The company expects its AI business to generate $60-$90 billion in annual sales by 2027. Investors may be looking for positive earnings revisions to continue the rally.

Experts have identified 7 elite stocks for early price pops, with a history of beating the market by 2X with an average gain of 24.1% per year since 1988. Investors are urged to pay attention to these hand-picked stocks for potential growth opportunities.



Read more at Nasdaq: Time to Buy the Post-Earnings Rally in Broadcom (AVGO) Stock?