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Broadcom managementThe Motley Fool
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85% Informative
Broadcom (NASDAQ: AVGO ) investors got a reality check last week following the release of the company's fiscal 2024 third-quarter results.
Shares of the semiconductor giant tumbled more than 10% in a single session, even though its revenue and earnings exceeded expectations.
Broadcom's business continues to get a nice boost from the growing demand for its custom processors and networking chips that are deployed in artificial intelligence data centers.
Investors looking to buy an AI stock that's capable of delivering healthy growth and is also trading at a reasonable valuation can consider buying Broadcom following its latest drop.
Consider when Nvidia made this list on April 15, 2005 ... if you invested $ 1,000 at the time of our recommendation, you’d have $ 662,392 !.
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