Why Broadcom Stock Inched Higher on Friday

Fresh research covering next-generation semiconductors proved to be a rising tide for the sector on Friday. Among the stocks benefiting was custom chip specialist Broadcom (NASDAQ: AVGO); it closed that trading session 1.2% higher, easily topping the 0.4% increase of the bellwether S&P 500 index.That morning, BMO Capital Markets analyst Harsh Kumar launched coverage of selected semiconductor and quantum computing stocks. In his estimation, Broadcom is No. 2 in the former sector with an outperform (read: buy) recommendation and $455 per share price target. It's behind only ubiquitous artificial intelligence (AI) chipmaker Nvidia. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool