Analysts overhaul Broadcom stock price targets after Q4 earnings
Broadcom shares soared in early Friday trading and look set to open at a fresh record high, as Wall Street analysts rushed to overhaul their price targets on the chipmaker following its quarterly earnings and bullish near-term update.
Broadcom (AVGO) has established itself as a key player in the AI-investment thesis. This position reflects both its specialized networking gear, which determines the speed at which information collected in one network is passed along to the next, and its ASIC chips, which help giant providers of cloud networking infrastructure and services like Alphabet (GOOGL) and Meta Platforms (META) boost the speed and reliability with which they process information.
The shares have added around $240…
