Broadcom Establishes New All-Time High After Q4 Beat

Broadcom Ltd AVGO shares are trading higher by $8.90 (up 5.21 percent) at $179.60 in Friday's session. The catalyst for the rally to a new all-time high is a Q4 beat for EPS of $0.09 along with a slight beat for revenues. Also, the company offered raised guidance and doubled its dividend.

After a higher open, it sprinted to $181.90 before reversing course. That far exceeds its former all-time high that was made in August at $179.42.

The shares quickly found support well ahead of the upper-range of of Thursday's range ($171.38) and now has rebounded back toward the $180 area.

Image Credit: By Cmglee - Own work, CC BY-SA 3.0, Wikimedia Commons