Here Is What You Need To Know Before Investing In Broadcom Inc. (AVGO)

Broadcom Inc. (NASDAQ:AVGO) is among the Goldman Sachs Stock Portfolio: 10 Large-Cap Stocks To Buy. The stock has had impressive returns over the past month, gaining 14.30% during the period, as of June 27.

On June 5, the company reported second-quarter earnings that beat Wall Street expectations. Broadcom Inc. (NASDAQ:AVGO) also provided robust guidance for the third quarter, betting on strong demand for its chips. It has forecast a revenue of $15.80 billion for Q3, above the analysts’ average estimate of $15.71 billion and 21% higher year-over-year.

Following the earnings call, several firms lifted the outlook for Broadcom Inc. (NASDAQ:AVGO), which has also strengthened investor sentiment. This included Benchmark, which raised the stock’s price target to $315 from $255 while maintaining a Buy rating for the company’s shares. Barclays has also hiked the stock’s price target to $265 from $215 and reiterated the earlier Overweight rating.

Broadcom Inc. (NASDAQ:AVGO) recently announced the general availability of VMware Cloud Foundation (VCF) 9.0, a platform for contemporary private cloud environments, which is set to accelerate innovation, control cloud costs, and enhance data control to enable security and sovereignty.

Broadcom Inc. (NASDAQ:AVGO) is a global technology company specializing in the design, development, and distribution of semiconductors, enterprise software, and security solutions.

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