Broadcom looks set to become a formidable player in technology

Stocks In The News/Stocks To Watch

The US Markets

A week ago we discussed two stocks: Apple Inc. (APPL) and Tesla Inc. (TSLA) as worth keeping an eye on. Really not much has changed since, if anything the big tech giants further entrenched their market strength since then. Today we shall add Broadcom Inc. (AVGO) to the list. The company over the last few years made some acquisitions that now makes it quite well positioned to grow. Those acquisitions now give the company a presence in all the current growth areas (AI, Chip, and Data Center) in the technology sector. Broadcom looks set to become a formidable player in technology sector. Broadcom had a 10-for-1 split on July 15. The stock was trading at $1,600.00 range prior to the split then.

Broadcom stock, AVGO closed at $183.20 on Thursday with a volume of 47M shares traded. On Friday, AVGO gapped up to close at $224.80 with 121M shares traded. Today, AVGO gained 11.21% or $25.20 to close at $250.00 with 111.6M shares changing hands. Of course, nothing goes up forever. The stock is worth keeping an eye on both in the short and long terms. The risk of a pullback increases as a stock price gets extended.

https://www.blackcanadianmedia.ca/the-canadian-vanguard-stock-market-report-at-market-close-monday-december-16-2024/