Options Market Statistics: Broadcom Beats Targets, Disappoints on Sales Outlook; Shares Drop and Options Pop
$Tesla Motors(TSLA)$
Tesla shares rose on Thursday after the company reaffirmed plans to launch its Full Self-Driving (FSD) software in China and Europe, pending regulatory approval. This comes ahead of the unveiling of its robotaxi, "Cybercab," which uses FSD technology. CEO Elon Musk expects regulatory approval in both regions by year-end, with launches in right-hand drive markets in early 2024. Despite skepticism over self-driving tech due to regulatory challenges, investors are hopeful about expedited approval under a potential Trump administration. In China, Tesla has partnered with $Baidu(BIDU)$
$Broadcom(AVGO)$
Broadcom narrowly beat Wall Street targets for its fiscal third quarter, reporting adjusted earnings of $1.24 per share on $13.07 billion in sales, both slightly above expectations. However, it guided slightly below analyst forecasts for the current quarter, expecting $14 billion in sales versus the $14.11 billion anticipated. Despite strong year-over-year growth, benefiting from its VMware acquisition, AVGO stock fell 4.8% in after-hours trading. CEO Hock Tan highlighted continued strength in AI semiconductor solutions, projecting $12 billion in AI chip revenue for fiscal 2024, up from a previous target of $11 billion.
$Bank of America(BAC)$
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