After a volatile summer following a consistently upward first half of the year, Broadcom Inc. (NASDAQ: AVGO) shares are again on the verge of highs. In the past three weeks alone, they've jumped more than 30% and come within $4 of hitting June's record.
It's a solid run of gains for Broadcom to be taking into Q4, especially as some of their semiconductor peers are still struggling to find their feet after this summer's volatility. Take Micron Inc (NASDAQ: MU) for example. Their stock lost 46% of its value from June through the start of last month, and while it's managed to tack on 20% from those lows, it's still a long way from its own record high. If anything, Micron could be at risk of forming a downtrend if it can't find some consistent upward momentum soon.
This is also true of Advanced Micro Devices Inc (NASDAQ: AMD), whose stock has been setting some worrying lower highs since its peak in March. Broadcom, however, can confidently say the uptrend that began almost two years ago is very much intact and, if anything, is on the verge of advancing.
Broadcom Stock Rises as Wall Street Bets on Long-Term Growth
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