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Broadcom Thrives With 114% Stock Surge in AI Boom, While Intel Faces Steep Decline

Benzinga ·  Jan 2 07:09

The year 2024 proved very eventful for the semiconductor companies in the U.S. tech sector. It rewarded those, includingNvidia Corp(NASDAQ:NVDA) andBroadcom Inc(NASDAQ:AVGO), that successfully tapped the artificial intelligence wave while punishing those that failed, likeIntel Corp(NASDAQ:INTC).

A third of the ten global companies worth over $1 trillion came from the chip industry, Bloomberg reports.

In 2024, Broadcom joinedTaiwan Semiconductor Manufacturing Co(NYSE:TSM) and Nvidia in the coveted Trillion club.

Broadcom stock surged 114%, while Intel plunged 58% in the last 12 months, underscoring the strategies that worked or failed for the companies.

Broadcom develops...

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