Broadly bullish<\/p>\n
Well before market open, prognosticator C.J. Muse of Cantor Fitzgerald made a double-digit raise to his Broadcom target. The new level is $350 per share, well up from the preceding $300. In making the change, Muse left his overweight (read: buy) recommendation unchanged. Not only that, he also maintained Broadcom as one of his company’s top stock picks.<\/p>\n
<\/p>\n
Image source: Getty Images.<\/p>\n
According to reports, the analyst believes that the company’s custom silicon unit will power its growth in the short- to mid-term. Broadcom is a major supplier of custom chips for advanced functionalities, specifically artificial intelligence (AI)<\/a>. <\/p>\n Specifically, Muse pointed to the company’s excellent opportunities to supply next-generation solutions to ambitious tech<\/a> powerhouses Alphabet<\/strong>,\u00a0the parent of Google, and Facebook\/Instagram owner Meta Platforms<\/strong>. On top of that, the pundit also believes that the company’s other division, infrastructure software, will bounce back in the very near future. <\/p>\n Double-digit improvements expected<\/p>\n Muse isn’t the only professional Broadcom-watcher expecting higher performance from the company. On average, according to data compiled by Yahoo! Finance, analysts like him are expecting a more than 21% improvement in revenue (to nearly $63 billion) in the current fiscal year over the previous one. Better, they’re modeling a 37% rise in per-share net income to $6.67.<\/p>\n Eric Volkman<\/a> has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet and Meta Platforms. The Motley Fool recommends Broadcom. The Motley Fool has a disclosure policy<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"The relentless march of artificial intelligence adoption should give quite the lift to the chipmaker’s fundamentals. On a…\n","protected":false},"author":3,"featured_media":195639,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[64,135,67,132,68],"class_list":{"0":"post-195638","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-business","9":"tag-markets","10":"tag-united-states","11":"tag-unitedstates","12":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115137954766473230","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/195638","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=195638"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/195638\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/195639"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=195638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=195638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=195638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}