Broadcom stock jumps 21%, pushing company past $1 trillion market cap for the first time
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Broadcom's stock surged by 21%, reaching a market cap of over $1 trillion for the first time, following strong AI revenue growth reported in its fourth quarter results. The company's AI revenue increased by 220% to $12.2 billion for the year.
December 13, 2024 | 3:30 pm
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Broadcom's stock surged by 21% after reporting a significant increase in AI revenue, pushing its market cap past $1 trillion for the first time.
The 21% increase in Broadcom's stock price is directly linked to the company's impressive AI revenue growth of 220%, which has significantly boosted investor confidence and pushed the market cap over $1 trillion. This strong financial performance is likely to positively impact the stock price in the short term.
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