Broadcom bolsters stock with new Apple deal. Here’s why the experts like it

by | May 23, 2023 | Financial

Market Movers rounded up the best reactions from investors and analysts as Broadcom ‘s stock hit a 52-week high after Apple announced a multibillion-dollar deal with the chipmaker . The experts, including Jim Cramer , discussed Broadcom as it looks to develop 5G radio frequency components in the U.S. for Apple, its biggest client. Additionally, Bank of America said Broadcom is the “most under-appreciated AI beneficiary. ” Broadcom’s stock closed the trading day up 1.2% at $686.50. Earlier, shares traded as high as $698.99.

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