Broadcom ($AVGO) experienced a significant surge of 13.12% following a strong fiscal Q2 performance driven by robust AI chip demand and the announcement of a 10-for-1 stock split. The company surpassed earnings expectations, with a 4% sales beat in FQ2 and raised its FY24 outlook by $1 billion to $51 billion. Broadcom's AI semiconductor business is poised for secular growth, with revenue up 43% YoY. The successful integration of VMware has also contributed to Broadcom's impressive growth.
#Broadcom deemed 'best AI play' besides Nvidia as it climbs to 8th in market cap
"Broadcom is the new darling of the AI space!" @jonnajarian Huge AI revenue & a 10-for-1 split on the horizon! $AVGO is making waves ( @petenajarian talked AI & nuclear power with @MariaBartiromo last week on @FoxBusiness Rebel's Edge 🏴☠️ 1pm #ITSNOTANOPTION #Broadcom #AI… https://t.co/eKwBSHOzny
.@Broadcom ends their Q2 2024 with strong earnings results, showcasing impressive growth📊, with revenue up 43% YoY. @StevenDickens3 provides insights into Broadcom's Q2 performance, driven by investments in AI & the successful integration of VMware: https://t.co/EsHbQ3sfRL
Broadcom earnings spotlight: AI dominance. 💳📊 https://t.co/Oa3q30T66U $AVGO 🎙️ @DrillDownPod #DrillDownEarnings @FuturumGroup #DDE #Broadcom
🚀 Exciting news! Broadcom's shares surge on earnings beat and high demand for AI products! 📈💡 Join the AI revolution with us and learn more about this game-changing technology! #AI #Broadcom #TechInnovation https://t.co/y8AI1ircUE
$AVGO | Broadcom Continues Upside To AI: 'Uniquely Positioned' To Grow, Says Analyst After Q2 Results • Broadcom reports a 4% FQ2 sales beat and raises its FY24 outlook by $1 billion to $51 billion. • Secular growth in the company’s AI semiconductor business could drive… https://t.co/rNkGINkn6q
.@Broadcom delivers strong fiscal Q2 on AI demand, splits stock 10-for-1 https://t.co/plc4pIJjOA Broadcom saw strong AI demand in the fiscal second quarter and said VMware accelerated its software business. @ldignan https://t.co/xtKqN3xkD8
Broadcom ( $AVGO) surged 13.12% after smashing Q2 earnings expectations and announcing a 10-for-1 stock split. Strong AI chip demand and VMware acquisition are driving growth. 📊💥