Why Broadcom Stock Jumped Today

After sell-offs yesterday, Broadcom (NASDAQ: AVGO) stock rebounded in Friday's trading. The company's share price ended the day's trading up 5.4%. Meanwhile, the S&P 500 (SNPINDEX: ^GSPC) and the Nasdaq Composite (NASDAQINDEX: ^IXIC) climbed 1.8% and 2.1%, respectively.Broadcom stock posted significant gains amid a day of rebound trading for the broader market. The company's share price also appears to have gotten a boost from new analyst coverage -- even though that coverage arrived with a lowered one-year price target.Stocks sold off yesterday after the White House announced that the effective tariff rate on China was actually 145% -- significantly above the already high rate that President Trump had cited in a message posted to social media on Wednesday. But the market saw substantial recovery momentum in Friday's trading, and Broadcom's valuation rose amid the recovery rally.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool