Why Broadcom Stock Is Rising Today

Broadcom (NASDAQ: AVGO) stock is moving higher Wednesday amid some bullish momentum for the broader market and a major valuation milestone for another player in the artificial intelligence (AI) space. The company's share price was up 2.2% as of 12:40 p.m. ET. The stock had been up as much as 2.8% earlier today. Meanwhile, the S&P 500 (SNPINDEX: ^GSPC) and the Nasdaq Composite (NASDAQINDEX: ^IXIC) were up 0.2% and 0.6%, respectively. The stock market is moving higher today as investors mostly shrug off some trade-related risk factors, and Nvidia's push into a $4 trillion market capitalization may also be helping to lift Broadcom stock. Bullish coverage from an analyst that was published yesterday could also be helping to support gains for the connectivity specialist's share price.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool