Why Broadcom Stock Is Climbing Thursday
Portfolio Pulse from Ryan Gustafson
Broadcom Inc. (AVGO) shares rose over 7% in sympathy with NVIDIA Corp (NVDA), which reported outstanding Q1 results and strong guidance. Susquehanna analyst Christopher Rolland maintained a Positive rating for Broadcom and raised the price target to $785 from $690.
May 25, 2023 | 7:38 pm
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POSITIVE IMPACT
Broadcom shares rose over 7% following NVIDIA's strong Q1 results. Susquehanna analyst maintained a Positive rating and raised the price target to $785.
Broadcom's stock price rose in sympathy with NVIDIA's outstanding Q1 results, indicating a positive sentiment in the semiconductor industry. The raised price target by Susquehanna analyst further supports the bullish outlook for Broadcom.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
NVIDIA reported outstanding Q1 results and strong guidance, beating estimates on both EPS and sales. The company also projected higher-than-expected Q2 revenue.
NVIDIA's outstanding Q1 results and strong guidance indicate a positive outlook for the company. Beating estimates on both EPS and sales, as well as projecting higher Q2 revenue, suggest a bullish sentiment for NVIDIA's stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100