Actionable Stock Market Trading Newswire. Built for Traders, by Traders.
All news is property of their respective owners.

Why Are Shares Of Broadcom Up Today?

Broadcom Inc. (NASDAQ: AVGO) shares are up Tuesday on news that subsidiaries of the company have commenced two different multi-year statements of work (SOW) with Apple Inc (NASDAQ:
byRyan Gustafson
May 23, 2023
1 minute read
Total
0
Shares
0
0
0
0
0
0

Broadcom Inc. (NASDAQ:AAPL). 

What To Know: The SOWs include a supply of a variety of specified high-performance RF and wireless components and modules for use in Apple products. Broadcom will supply Apple with certain components and modules for its products and provide maintenance and distribution of adequate manufacturing capacity and other resources to make the products.

Following the announcement, BofA Securities analyst Vivek Arya maintained Broadcom with a Buy rating and raised the price target from $725 to $800.

Related Link: A Boost for 'Made in America': Apple and Broadcom Tag-Team for Homegrown 5G

AVGO Price Action: Broadcom shares were up 2.01% at $692.03 Tuesday afternoon, according to Benzinga Pro.

Photo: Lorenzo Cafaro from Pixabay.

 
Total
0
Shares
Share 0
Tweet 0
Share 0
Share 0
Share 0
Share 0
Related Posts
Read More

Symbotic Shares Fall After Mixed Q1 Earnings Report

By Erica Kollmann
February 5, 5:55 PM
Symbotic reported quarterly losses of 2 cents per share which beat the analyst consensus estimate of a loss of 6 cents per share by 66.67% and is a 83.33% increase over losses of 12 cents per share from the same period last year. The company reported quarterly sales of $368.45 million, missing the analyst consensus estimate of $368.86 million by 0.11% and representing a 78.59% increase over sales of $206.31 million the same period last year.

SYM