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Broadcom's long and winding path to the trillion-dollar club, and how Trump played a role - TL;DR CNBC

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: AAPLORCLINTCMSFTAMZNGOOGLNVDAAVGOAMDQCOMMETA

Keywords: nvidia corptechnologyapple incmeta platforms incmicrosoft corpbroadcom incintel corporacle corpbusiness newsadvanced micro devices incsocial mediaamazon.com incbusinessalphabet incbreaking news: technologyqualcomm inc

Source: https://www.cnbc.com/2024/12/14/broadcoms-long-path-to-the-trillion-dollar-club-and-trumps-role.html


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