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Broadcom (AVGO) stock extended gains on Thursday after the semiconductor firm said its artificial intelligence (AI) sales more than doubled in Q1, adding AI revenue will surpass $100 billion by 2027. The post-earnings surge helped AVGO soar past its major moving averages (20-day, 50-day, 200-day), indicating bulls have firmly taken control across multiple timeframes.
Despite today’s rally, Broadcom stock remains down about 5% versus its year-to-date high.