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Stock impact report

Morgan Stanley resets Broadcom price target after earnings [Yahoo! Finance]

Broadcom Inc. (AVGO) 
Last broadcom inc. earnings: 3/12 04:15 pm Check Earnings Report
US:NASDAQ Investor Relations: investors.broadcom.com
Company Research Source: Yahoo! Finance
The stock closed 4.8% higher at $322.77 on the next day, according to Yahoo Finance AI-heavy stock not crashing following the earnings report has become a rarity, even when the earnings are very strong, as we've seen with Nvidia . For more on that phenomenon, read my article “ Bank of America resets Nvidia price target after earnings .” “Consistent with our commitment to return excess cash to shareholders, we returned $10.9 billion in the first quarter through $3.1 billion of cash dividends and $7.8 billion of stock repurchases,” said Broadcom CFO Kirsten Spears. I think the buybacks are what saved Broadcom from a sell-off — smart move. AI hype has created an extremely volatile stock market atmosphere, in which investors imagine that the technology can replace anyone and anything. I wrote about how AI can't even replace a simple search in my article “ Salesforce AI faces backlash from customers .” Failing to understand the limitations of AI, we see investors thinking that so Show less Read more
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