Thanks to another strong showing for its second-quarter earnings report, semiconductor giant Broadcom Inc. (NASDAQ:AVGO) has been one of the strongest performers among major publicly traded tech firms. On a year-to-date basis, AVGO stock has gained nearly 19%. Since the close of April 4, however, the security has nearly doubled in value. Still, with so much good news baked in, pessimists counter that AVGO carries too rich a premium.
Last month, Broadcom reported second-quarter revenue of $15 billion, beating Wall Street's expectation of $14.99 billion. On the bottom line, the tech stalwart posted adjusted earnings of $1.58 per share, exceeding the consensus view of $1.56 per share.
