1 Wall Street Analyst Thinks Broadcom Is Going to $260. Is It a Buy Now? [Yahoo! Finance]
Truist Financial Corporation (TFC)
Last truist financial corporation earnings: 4/20 05:45 am
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Source: Yahoo! Finance
The diversified semiconductor company impressed the market with its fiscal 2024 fourth-quarter earnings report last week, in particular its artificial intelligence (AI) growth. Broadcom, which may be best known for networking chips, has become the No. 2 chip stock behind Nvidia in the AI race, and the company now seems to be fulfilling that promise. The company said AI revenue jumped 220% to $12.2 billion in the fiscal year due to the growth of its AI XPUs and "Ethernet networking portfolio." That made up nearly half of its $30.1 billion semiconductor revenue in the year. Now, Wall Street is taking notice with a number of analysts upgrading the stock and raising price targets in the aftermath of the report. Image source: Getty Images. Truist expects more gains for Broadcom Among the analysts reaffirming their bullishness on Broadcom was Truist , which raised its price target from $245 to $260 per share and reaffirmed its buy rating, according to media reports. The price ta
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TFC
Earnings
- 10/18/24 - Beat
TFC
Sec Filings
- 12/6/24 - Form 4
- 12/4/24 - Form 144
- 11/27/24 - Form 4
- TFC's page on the SEC website