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Broadcom Inc. (NASDAQ:AVGO) stock reached a significant milestone, hitting an all-time high of 277.76 USD, with a substantial market capitalization of $1.3 trillion. According to InvestingPro data, the company maintains impressive gross profit margins of 77%. This remarkable achievement underscores a strong performance over the past year, with the stock experiencing a notable 1-year change of 58.73%. The semiconductor giant’s stock price surge reflects robust investor confidence and positive market sentiment, supported by remarkable revenue growth of 33.85% and consistent dividend payments for 16 consecutive years. InvestingPro analysis reveals over 15 additional key insights about Broadcom’s performance and valuation. As Broadcom continues to expand its influence in the technology sector, investors remain optimistic about its future prospects, with analyst consensus strongly bullish and price targets reaching up to $400. Discover comprehensive analysis and Fair Value estimates in the detailed Pro Research Report, available exclusively on InvestingPro.
In other recent news, Broadcom has released VMware Cloud Foundation 9.0, enhancing its private cloud capabilities with a consistent operating model and improved features for cloud administrators. This development follows Broadcom’s acquisition of VMware, with the new platform supporting both traditional and AI applications. Fitch Ratings has assigned a ’BBB’ rating to Broadcom’s senior notes issue, highlighting the company’s strengthened financial flexibility and robust demand for AI and VMware products. Fitch expects Broadcom’s free cash flow to be stable and increasing, supported by recurring revenue from its software portfolio.
JPMorgan has reiterated an Overweight rating on Broadcom, citing strong AI demand and potential growth in its custom AI XPU business. Mizuho (NYSE:MFG) also maintained an Outperform rating, raising Broadcom’s price target to $315 due to strength in AI chips and increased revenue estimates for fiscal 2025 and 2026. The firm projects significant growth in Broadcom’s AI Accelerator market share over the coming years. Broadcom’s revenue profile continues to strengthen, with expectations of high-teens organic revenue growth in fiscal year 2025.
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