AVGO shares slide toward 5-month lows after strong AI outlook
Broadcom (AVGO) reported better-than-expected quarterly results and a large increase in its AI revenue outlook, but Wall Street reaction was mixed, with Evercore ISI cutting its price target to $578 from $582.
Broadcom (AVGO) shares were in the spotlight on Thursday after reporting better-than-expected quarterly results and a massive increase in its AI revenue outlook.However, Wall Street had a mixed reaction to the company’s report.
Evercore ISI lowered its price target on the stock to $578 from $582 wh…