Broadcom's long and winding path to the trillion-dollar club, and how Trump played a role
Publishing timestamp: 2024-12-14 08:10:44
Summary
Broadcom's stock jumped 24% to reach a $1 trillion market cap after beating profit expectations and providing optimistic guidance. The company has seen significant growth since abandoning a bid to acquire Qualcomm in 2018, focusing on acquisitions in infrastructure software and AI. Broadcom's custom AI accelerators are being used by top tech companies like Meta, Alphabet, and TikTok parent ByteDance. The company's market opportunity continues to grow as demand for compute power increases for large language models.
Sentiment: POSITIVE
Tickers: AAPL, ORCL, INTC, MSFT, AMZN, GOOGL, NVDA, AVGO, AMD, QCOM, META,
Keywords: nvidia corp, technology, apple inc, meta platforms inc, microsoft corp, broadcom inc, intel corp, oracle corp, business news, advanced micro devices inc, social media, amazon.com inc, business, alphabet inc, breaking news: technology, qualcomm inc,
Source: https://www.cnbc.com/2024/12/14/broadcoms-long-path-to-the-trillion-dollar-club-and-trumps-role.html