Broadcom Stock Surges on AI Prospects, Hits $1 Trillion Milestone

Broadcom's stock surged 20% after a strong fiscal fourth-quarter report, with revenue up 51% year-over-year, driven by significant growth in AI-related sales. Deutsche Bank's analyst Ross Seymore praised Broadcom's long-term AI revenue projections, expecting $60-90 billion by 2027 from key clients like Google and Meta. The company also added two new hyperscale customers, indicating growth potential. Despite a minor software miss, Broadcom's fundamentals remain strong, leading to a Buy rating and a raised price target of $240. The stock has a Strong Buy consensus but is considered fully valued currently.