Broadcom Inc. (AVGO) Stock Surges Over 8%
Broadcom Inc. (AVGO) Stock Surges Over 8%
As shown on the chart, Broadcom Inc. (AVGO) shares soared by more than 8% in Friday’s trading session.
The bullish momentum is driven by strong quarterly results released last week and an optimistic outlook highlighting sustained demand in the artificial intelligence sector:
→ Earnings per share: $1.60 (Analyst forecast: $1.49)
→ Revenue: $14.92 billion (Expected: $14.61 billion), reflecting a 25% increase from $11.96 billion a year earlier.
Technical Analysis of AVGO Stock
The chart indicates that the market remains in an uptrend, with signs that the price has found support at:
→ The lower boundary of the channel.
→ The former resistance zone around $183 – which also aligns with the lower boundary of the price gap that formed in December 2024, as we previously noted.
This suggests that after forming a Bullish Flag pattern (marked in red), the upward trend may continue.
Broadcom (AVGO) Stock Price Forecast
Bank of America analyst Vivek Arya called the results from Broadcom a “reassuring update from an AI leader” and a “positive read-across for AI sentiment.”
According to TipRanks:
→ The average price target for AVGO shares is $248.
→ 27 out of 30 analysts recommend buying AVGO stock.
Trade on TradingView with FXOpen. Consider opening an account and access over 700 markets with tight spreads from 0.0 pips and low commissions from $1.50 per lot.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
As shown on the chart, Broadcom Inc. (AVGO) shares soared by more than 8% in Friday’s trading session.
The bullish momentum is driven by strong quarterly results released last week and an optimistic outlook highlighting sustained demand in the artificial intelligence sector:
→ Earnings per share: $1.60 (Analyst forecast: $1.49)
→ Revenue: $14.92 billion (Expected: $14.61 billion), reflecting a 25% increase from $11.96 billion a year earlier.
Technical Analysis of AVGO Stock
The chart indicates that the market remains in an uptrend, with signs that the price has found support at:
→ The lower boundary of the channel.
→ The former resistance zone around $183 – which also aligns with the lower boundary of the price gap that formed in December 2024, as we previously noted.
This suggests that after forming a Bullish Flag pattern (marked in red), the upward trend may continue.
Broadcom (AVGO) Stock Price Forecast
Bank of America analyst Vivek Arya called the results from Broadcom a “reassuring update from an AI leader” and a “positive read-across for AI sentiment.”
According to TipRanks:
→ The average price target for AVGO shares is $248.
→ 27 out of 30 analysts recommend buying AVGO stock.
Trade on TradingView with FXOpen. Consider opening an account and access over 700 markets with tight spreads from 0.0 pips and low commissions from $1.50 per lot.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Consider accessing over 700 markets with tight spreads from 0.0 pips and low commissions from $1.50 per lot.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.