Broadcom (AVGO) shares rose 0.92% to close at $343.02, participating in a broader semiconductor rally triggered by robust earnings and bullish guidance from Taiwan Semiconductor Manufacturing Co. (TSMC).
- TSMC reported a 35% profit surge and provided bullish capital expenditure guidance through 2026, primarily driven by demand for artificial intelligence.
- The rebound helped AVGO recover some ground following its 4.15% decline on January 14, which occurred after the announcement of a $4.5 billion senior note sale.