We recently compiled a list of the 10 Stocks End With Solid Performance. In this article, we are going to take a look at where Broadcom Inc. (NASDAQ:AVGO) stands against the other stocks.

The stock market ended the trading week in the green territory with all major indices recording gains as investors digested latest US jobs data which fell short of expectations.

The tech-heavy Nasdaq posted the largest gain with 0.70 percent, followed by the S&P 500 with 0.55 percent, and the Dow Jones by 0.52 percent.

Ten companies across mixed sectors also mirrored a broader market optimism, booking modest gains during the end of the trading week. In this article, we have named the 10 top performers on Friday and detailed the reasons behind their performance.

To come up with the list, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A technician working at a magnified microscope, developing a new integrated circuit.

Broadcom Inc. (NASDAQ:AVGO)

Broadcom Inc. (NASDAQ:AVGO) ended firmer on Friday, adding 8.64 percent at $194.96 apiece as investors cheered its stellar performance for the first quarter of fiscal year 2025 that further fueled hopes of a huge demand from Artificial Intelligence.

In a statement, Broadcom Inc. (NASDAQ:AVGO) said net income in the quarter jumped by 315 percent to $5.5 billion from $1.3 billion in the same period a year earlier, as net revenues grew 25 percent to $14.9 billion from $11.96 billion year-on-year on the back of a strong performance in both AI semiconductor solutions and infrastructure software.

AI revenues alone expanded by 77 percent year-on-year to $4.1 billion, while infrastructure software revenues increased by 47 percent to $6.7 billion.

“We expect continued strength in AI semiconductor revenue of $4.4 billion in [the second quarter], as hyperscale partners continue to invest in AI XPUs and connectivity solutions for AI data centers,” said Broadcom Inc. (NASDAQ:AVGO) President and CEO Hock Tan.

Overall AVGO ranks 9th on our list of Friday's top performers. While we acknowledge the potential of AVGO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than AVGO but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

 

Disclosure: None. This article is originally published at Insider Monkey.