Tesla gains as Musk buys $1 billion in stock; closes well-off highs
Broadcom Inc. stock reached an all-time high of $355.77 USD, marking a significant milestone for the semiconductor giant, which now commands a market capitalization of $1.44 trillion. According to InvestingPro data, the company maintains impressive gross profit margins of 77.19% and generated nearly $60 billion in revenue over the last twelve months. Over the past year, Broadcom has experienced a remarkable 123.44% increase in its stock price, reflecting strong investor confidence and robust performance. This surge in value underscores Broadcom’s strategic initiatives and market positioning, with revenue growth of 28% year-over-year. While analysts maintain a Strong Buy consensus, InvestingPro’s Fair Value analysis suggests the stock may be currently overvalued. The company’s ability to consistently deliver on its business objectives has been a key factor in reaching this new peak, capturing the attention of both investors and analysts alike. For deeper insights into Broadcom’s valuation and growth prospects, check out the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Broadcom has seen a series of analyst upgrades following its latest earnings report and AI growth. KeyBanc increased its price target for Broadcom to $400, citing a strong fiscal third-quarter performance where AI semiconductor revenues surged 63% year-over-year, reaching $5.2 billion. Piper Sandler also raised its price target to $375, highlighting Broadcom’s robust AI results and a significant $10 billion order from a fourth customer. Truist Securities adjusted its price target to $365, noting the addition of a new AI infrastructure customer. Meanwhile, TD Cowen increased its target to $370, attributing the change to Broadcom’s strong results and ongoing expansion of its tensor processing unit business.
In related developments, Celestica shares rose after BMO Capital Markets suggested the company could become a key supplier for OpenAI, partly due to its use of Broadcom silicon. Analysts have maintained positive ratings on Broadcom, reflecting confidence in its AI-driven growth trajectory. These developments underscore Broadcom’s expanding role in the AI sector, as evidenced by the consistent upgrades from multiple firms.
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