Broadcom Is Less Than 5% From the $2 Trillion Club -- and Apple Just Committed $30 Billion for More Chips
Yahoo Finance ·
Broadcom ( AVGO +3.24% ) is closing in on a milestone only a handful of companies have ever reached. As of this writing, the semiconductor and infrastructure-software giant is worth about $1.91 trillion. That leaves it less than 5% shy of a $2 trillion market capitalization, and at the current share count, a move to about $420 per share would get it there. The stock rose more than 3% on Thursday alone, so it could get to this milestone quickly. The latest catalyst for the stock came from Apple ( AAPL +0.85% ) . On Wednesday, the iPhone maker said it will spend more than $30 billion with Broadcom over the coming years, deepening a supplier relationship that already runs deep. It's the sort of headline that can make a $2 trillion valuation feel almost preordained. But just because there's a clear potential path to $2 trillion doesn't mean it can stay there.
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