2024-06-12 23:08:36 ET
Summary
- After the release of its Q2 FY2024 report, Broadcom's stock is surging higher, with investors potentially celebrating strong AI demand and a stock split.
- In Q2 FY2024, Broadcom's revenue reached $12.49B, with AI products contributing nearly $3.1B. In addition to a solid top-line beat, management raised full-year outlook for sales and profitability.
- Despite its strong financial performance, Broadcom's stock is uninvestable at current levels. Read on to find out why!
Introduction
Given its positioning as a major infrastructure player in the golden era of AI, Broadcom Inc. ( AVGO )(AVGO:CA) has enjoyed a monstrous stock price rally in recent months. And, in light of reporting a top and bottom line beat for Q2 FY2024, Broadcom stock has popped up by another ~13.5% in the after-hours session:
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For further details see:
Broadcom Pops On Unwarranted Optimism, Sell (Rating Downgrade)