Broadcom Stock Is Having a Big Year. Here Are Some of the Highlights
Broadcom may have had a volatile year, but the stock was rising on investor enthusiasm Tuesday as it headed for its best year on record.The California-based tech company is known for making application-specific integrated circuits, or ASICs. Broadcom's customers use these specially designed chips to power artificial intelligence.While the company has piqued investor interest as a semiconductor manufacturer, it is not purely an AI play. Broadcom also produces enterprise software and security solutions. The company operates through its Semiconductor Solutions and Infrastructure Software arms.Shares of Broadcom rose 3.2% to $239.68 on Thursday. The stock has more than doubled in price this year, and is on pace for its best year on record, according to Dow Jones Market Data.The company joined the $1 trillion club when its market capitalization topped that on Dec. 13. It is the eighth largest public company by market cap in the U.S. and the ninth in the world, according to Dow Jones Market