Broadcom Stock Soars as Earnings Show AI Strength | Global News Avenue

Major U.S. stock indexes were mixed and little changed, ending a trading week that saw the release of several key economic data points. although Signs of sticky inflationtraders widely expect the Fed to cut interest rates again when it meets next week 2024 Final Policy Meeting.

The S&P 500 ended flat on Friday, the Dow Jones fell 0.2% and the Nasdaq edged up 0.1%.

Broadcom (AVGO)’s stock price soared 24.4%, reaching a record high, increasing the company’s market value Over $1 trillion level After chipmakers Exceeded revenue and profit expectations and its fiscal fourth-quarter results. The company stated that its Artificial Intelligence (AI) Sales more than triple year-over-year in fiscal 2024, some analysts think Price target raised The view on the stock is that its AI revenue is growing. Friday’s gains made Broadcom the best-performing company in the S&P 500.

Lamb Weston shares (long wave), a company that makes frozen French fries and other potato products, rose 6.8% after reports it was in acquisition talks with Post Holdings (postal), a packaged food giant best known for its breakfast cereals. Lamb Weston reportedly faces challenge from activist investor Explore options for selling your business.

Walgreens Boots Alliance (world boxing association) shares also rose 6.8%. Earlier this week, reports emerged that pharmacy operators were Evaluate a possible sale Private equity firm Sycamore Partners acquired the company, but the stock gave back some of its gains before regaining momentum on Friday.

Arista Network (Aneta) shares rose 5.1%, hitting a record high. Citi analysts said the network equipment provider could be a major beneficiary of booming demand for artificial intelligence, pointing to the need for data center switches. Arista recently completed 4-in-1 stock split December 4th.

Nucor (Nitrogen fertilizer use efficiencyShares of the steelmaker fell nearly 4.7% after UBS downgraded its rating on the steelmaker’s stock to “neutral” from “buy”, extending losses from the previous session. Anticipations of protective trade policies by the incoming administration have driven steel stocks higher following the U.S. presidential election, with analysts noting that the risk/reward profile following these gains is less optimistic.

Shares of server maker Super Micro Computer (SMCI) fell 3.9%. The drop comes as concerns grow that the stock could be pulled out of the market. Nasdaq 100 Index. The company’s shares have been volatile since it delayed its annual regulatory filing amid questions about its accounting practices and the resignation of its audit firm.