Broadcom's long and winding path to the trillion-dollar club, and how Trump played a role [CNBC]
Broadcom Inc. (AVGO)
Last broadcom inc. earnings: 3/12 04:15 pm
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US:NASDAQ Investor Relations:
investors.broadcom.com
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Source: CNBC
The stock jumped 24%, its best day on record, after a profit beat and optimistic guidance. “You have to be a Google, you have to be a Meta, you have to be a Microsoft or an Oracle to be able to use those chips,” said Harsh Kumar, an analyst at Piper Sandler. When Broadcom tried to buy rival Qualcomm for $120 billion in 2018, its efforts were thwarted. Qualcomm rejected the offer and the Trump administration declared the deal a potential threat to national security. In March of that year, Broadcom withdrew the bid, which would've been the largest technology deal on record, and said, “Qualcomm was clearly a unique and very large acquisition opportunity.” As it turns out, Broadcom didn't need it. Broadcom shares soared 24% on Friday, their best day ever, and lifted the company's market cap past $1 trillion for the first time. The chipmaker became the eighth member of tech's 13-figure club. Since abandoning its Qualcomm offer, Broadcom shares are up more than 760%, trouncing Qu
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News
- Broadcom Inc. (NASDAQ: AVGO) had its price target raised by analysts at Morgan Stanley from $233.00 to $265.00. They now have an "overweight" rating on the stock.MarketBeat
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AVGO
Earnings
- 12/12/24 - Beat
AVGO
Sec Filings
- 12/20/24 - Form 10-K
- 12/20/24 - Form 144
- 12/19/24 - Form 4
- AVGO's page on the SEC website