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Stock of the Day: Broadcom soars 10% as earnings forecast offers hope for the sagging AI trade

  • Broadcom stock rose over 10% in early trading on Friday following better-than-expected earnings and positive forward guidance.
  • Revenue in Broadcom's AI segment increased by 77% in the quarter, offering hope for the struggling AI trade.
  • Broadcom's expected revenue of $14.9 billion exceeded consensus estimates of $14.76 billion.
  • The chipmaker's performance provides a much-needed silver lining for AI hardware makers amid skepticism in the market.

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