Chicago, IL –December 30, 2024 – Zacks Equity Research shares Broadcom Inc. AVGO, as the Bull of the Day and Super Micro Computer, Inc. SMCI, as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Energy Transfer LP ET and ONEOK Inc. OKE.
Broadcom is one of the unsung heroes of the semiconductor revolution of the past decade. But the stock is up 6X since the 2022 bear market lows and it just jumped over 35% this month after another strong earnings report.
And one place the stock is never ignored is Zacks Investment Research. I’m going to highlight recent coverage of this key player in semiconductor networking, from the datacenter to the smartphone.
Broadcom reported their Q4 for fiscal 2024 (ended October) on December 12 and gave investors renewed confidence in the wide enterprise demand for their deep solutions stack.
Broadcom revenues jumped 51% year-over-year to $14 billion while profits surged 28%. Top-line growth was driven by strong demand for AI semiconductor solutions, custom AI accelerators (XPUs), and VMware cloud networking.
My colleague Ethan Feller provided more details here…
Since he wrote that article the day after earnings, analysts were once again compelled to raise AVGO earnings estimates for this year and next, making the stock a consistent dweller in the upper realms of the Zacks Rank.
Another colleague, Tracey Ryniec who runs the Value Investor and Insider Trader portfolios, bought AVGO shares in September of 2023 near $81. On my last glance at share prices near $240 on Friday, she was sporting a 195% gain for her clients.
You can hear Tracy outline the bull case for AVGO and other key Semi players in this October episode of the MarketEdge podcast…
