Bank of America says Broadcom could be the next trillion-dollar company—but rival Nvidia would still be 3 times larger [Yahoo! Finance]
Bank of America Corporation (BAC)
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Source: Yahoo! Finance
Broadcom , an American semiconductor manufacturer, announced a 10-to-1 stock split and better-than-expected earnings in its second-quarter earnings report on Wednesday. In the report, Broadcom also projected $51 billion in sales for the 2024 fiscal year, slightly higher than anticipated. Shares soared that day in after-hours trading and were going for about $1,740 around 3 p.m. ET on Friday—about 16% higher than their Wednesday opening price near $1,500. In a note to investors on Thursday, Bank of America boosted its target price for Broadcom shares to $2,000 and raised its 2025 fiscal year sales forecast to $59.9 billion, which would be a 16% year-over-year gain. BofA cited semiconductor sales and its acquisition of software firm VMWare last year. "We reiterate Buy, consider it a top AI pick" along with Nvidia, the analysts wrote, citing Broadcom's potential growth in custom chips, ethernet networking, and VMWare upsells. If BofA's prediction materializes, that would push Broa
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