Broadcom Reports Earnings June 3. Time to Buy?

Shares of Broadcom (NASDAQ: AVGO) jumped nearly 5% on Friday to close at an all-time high of $446.77, pushing the chip designer’s market capitalization past $2.1 trillion as of this writing.

The timing of the move is notable. Broadcom reports its fiscal second-quarter results after the close on Wednesday, June 3 — and after a fiscal first quarter in which its artificial intelligence (AI) business more than doubled, the market is betting the momentum ran straight through the spring.

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Of course, no one can know which way the stock moves once the report lands. So, rather than guessing, the more useful question is whether Broadcom’s business justifies its record-high price.

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