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Broadcom Stock Is Surging Thursday: What's Going On?

Shares of semiconductor company Broadcom Inc (NASDAQ:AVGO) are moving higher Thursday following strong second-quarter financial results. Multiple analysts also raised price targets following the print. Q2 Revenue: $12.487 billion, beating estimates of $12.028 billion Q2 EPS:  $10.96, beating estimates of $10.84 Broadcom said it generated $4.58 billion in cash from operations during the quarter. The company ended the second quarter with $9.809 billion in cash and cash equivalents. "Broadcom's second quarter results were once again driven by AI demand and VMware. Revenue from our AI products was a record $3.1 billion during the quarter. Infrastructure software revenue accelerated as more enterprises adopted the VMware software ...