After Broadcom (NASDAQ: AVGO) slipped below $300 per share in late March, multiple key developments have allowed the stock to stage a significant recovery to around $350.
The first was de-escalation with Iran. A Pakistan-brokered two-week ceasefire, announced April 7, lifted indexes broadly.
With a beta of 1.24, Broadcom is more volatile than the broad market, and shares of the chip giant benefited disproportionately from the announcement. However, much of the stock's recent jump came as a result of another announcement.
