Diamonds and Dogs

12/13/24

Broadcom (AVGO) a big winner to end the week. The chip giant is up 20% on strong earnings and optimism for strong demand for AI products in 2025.Broadcom beat by 3 cents as revenues rose 51% year over year to $14.05 billion. The stock did get an upgrade with a $240 price target. Rival , Micron is up 2% on the news. Ironically, Nvidia is quiet.

Steel has been weak. Steel company, Nucor (NUE) is down 3% on a bearish downgrade at UBS. The analyst is citing less compelling risk-reward dynamics with demand pricing pressures in 2025. Investors are also concerned about possible trade wars under the Trump administration. On the plus side, Nucor did recently raise their dividend for the 52 straight year.

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