Bank of America says Broadcom could be the next trillion-dollar company—but rival Nvidia would still be 3 times larger
How much has Broadcom's stock price increased since the announcement of its second-quarter earnings?
Broadcom's stock price has increased by about 16% since the announcement of its second-quarter earnings. The stock was trading at around $1,500 before the earnings report and surged to about $1,740 after the announcement.
If Broadcom's market cap surpasses $1 trillion, how many companies would be in this exclusive club, and which are they?
If Broadcom's market cap surpasses $1 trillion, it would join an exclusive club currently comprising six companies. These companies are Microsoft, Apple, Nvidia, Alphabet, Amazon, and Meta Platforms.
What are Bank of America's predictions for Broadcom's fiscal year 2025 sales and target price for its shares?
Bank of America predicts that Broadcom's fiscal year 2025 sales will be $59.9 billion, which would be a 16% year-over-year gain. They have also raised their target price for Broadcom shares to $2,000. The analysts cited semiconductor sales and the company's acquisition of software firm VMWare last year as reasons for their optimistic outlook.