{ }
Symbol AVGO
Name Broadcom Inc.
Currency USD
Sector Information Technology
IndustryGroup Semiconductors & Semiconductor Equipment
Industry Semiconductors & Semiconductor Equipment
Market NASDAQ Global Select
Country United States
State CA
City San Jose
Zipcode 95131-2313
Website http://www.broadcom.com
Stocks turned lower in late-morning trading, with the S&P 500 and Nasdaq Composite down 0.1% and 0.2%, respectively, while the Dow Jones Industrial Average remained flat. Broadcom's strong earnings initially boosted chip stocks, but major tech companies like Apple and Microsoft saw losses. As the market anticipates a Federal Reserve rate cut next week, the yield on 10-year Treasurys rose to 4.38%.
The Dow Jones Industrial Average and major indexes rose in premarket trading, buoyed by Broadcom's strong earnings, which propelled its stock up 17%. Nvidia and Tesla also saw gains, with Nvidia rebounding from losses and Tesla aiming to recover from a recent reversal. Trip.com shares surged 8.7% after breaking past a buy point, while BlackRock and Manhattan Associates approached their respective buy points, indicating potential investment opportunities in the current market.
Tech stocks propelled US futures higher, led by a 17% surge in Broadcom after it forecasted a 65% AI-driven sales increase. The Nasdaq rose 0.7%, while S&P 500 futures gained 0.4%. However, the Dow struggled, impacted by a 15% drop in UnitedHealth shares following the CEO's fatal shooting.
Stock futures rose early Friday, with the Nasdaq aiming for gains and the Dow looking to end a six-session losing streak. Broadcom surged nearly 15% after reporting a 51% revenue increase, driven by a tripling of AI sales, while Costco exceeded earnings expectations following a membership fee hike. RH's stock soared after posting a profit and raising demand projections, and Apple shares climbed on optimism regarding its AI features.
U.S. stock index futures rose on Friday, led by the tech-heavy Nasdaq 100, following an optimistic forecast from chipmaker Broadcom. This development has fueled ongoing enthusiasm surrounding artificial intelligence advancements.
UBS has increased its price target for Broadcom from $200 to $220 while maintaining a "Buy" rating. Analyst Timothy Arcuri noted that the chip company's performance and outlook are solid, with results potentially exceeding investor expectations, particularly driven by interest in artificial intelligence.
UBS has increased its price target for Broadcom from $200 to $220, maintaining a "Buy" rating. Analyst Timothy Arcuri noted that the chip company's performance and outlook are solid, with results potentially exceeding investor expectations, particularly driven by interest in artificial intelligence.
Dow futures remained stable after a losing session on Wall Street, where the Dow dropped 234 points, marking its longest losing streak since April. Broadcom surged 14% on strong AI revenue growth, while RH jumped 18% after raising its revenue guidance despite lower earnings. Economic data releases are light on Friday, with import and export figures expected.
Dow Jones, S&P 500, and Nasdaq futures showed little change after hours, with Broadcom and Costco reporting earnings. Broadcom's results indicated a potential breakout, while Arm Holdings flashed a buy signal. The stock market rally faced modest losses, particularly among small caps, as the Nasdaq remains near record highs despite a decline in major tech stocks like Nvidia and Adobe.
The Dow Jones Industrial Average and major indexes reacted to unexpected inflation data, with the Dow inching higher while the S&P 500 and Nasdaq fell. Adobe's stock plummeted 11% after a disappointing sales outlook, while Tesla and Nvidia also faced declines after recent highs. The producer price index rose 0.4% in November, exceeding expectations, and first-time jobless claims unexpectedly increased to 242,000.

Machinary offers a groundbreaking, modular, and customizable solution that provides advanced financial news and statistical analysis. Our platform goes beyond traditional quantitative analysis, offering users a comprehensive understanding of real-time market dynamics, event detection, and risk analysis.

Address

Waitlist

We’re granting exclusive early access to the first 500 users from december 20.

© 2024 by Machinary.com - Version: 1.0.0.0. All rights reserved

Layout

Color mode

Theme mode

Layout settings

Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.