“Broadcom Stock is Buy. I Was Wrong.”
Speaker is not buying AVGO currently due to opportunity cost, despite acknowledging its strong AI-driven fundamental growth.
So, who is behind all of these chips? Well, it's Broadcom, ticker symbol AVGO. Broadcom stock has seen its stock surge in recent years up 637% over the past 5 years, and it's now the eighth most valuable company in the world with a market cap of $1.75 trillion.
They just reported earnings and business is booming. Revenue is up 86% year over year, earnings per share is up 96% year over year, AI semiconductor revenue is up 221% year over year.
They hit record free cash flow and they raised their guidance.