Broadcom Inc. (NASDAQ:AVGO) reached a new all-time high, with shares climbing to $277.76 and pushing its market cap to an impressive $1.3 trillion. This milestone highlights a strong year for the semiconductor giant, with its stock soaring nearly 59% over the past 12 months. Broadcom’s robust revenue growth of 33.85% and a track record of 16 consecutive years of dividend payments have reinforced investor confidence and positive market momentum.
As Broadcom continues to grow its footprint in the tech industry, analysts remain highly optimistic, setting price targets as high as $400.
Recently, Broadcom unveiled VMware Cloud Foundation 9.0, boosting its private cloud offerings with a unified operating model and enhanced features for cloud administrators. This launch follows Broadcom’s acquisition of VMware, with the platform supporting both traditional workloads and AI applications.
Credit rating agency Fitch assigned a ‘BBB’ rating to Broadcom’s senior notes issuance, noting the company’s strong financial flexibility and solid demand for its AI and VMware products. Fitch forecasts stable and increasing free cash flow, supported by recurring software revenue.
JPMorgan reiterated its Overweight rating on Broadcom, citing rising AI demand and growth potential in its custom AI XPU segment. Mizuho also maintained an Outperform rating, raising the price target to $315, driven by strong AI chip sales and higher revenue projections for fiscal years 2025 and 2026. Broadcom is expected to capture significant market share in AI accelerators in the coming years, with organic revenue growth anticipated in the high teens for fiscal 2025.
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