Broadcom Joins Trillion-Dollar Club Driving Marvell, Astera, And Other Chip Stocks To Record Highs: Retail Is Doubling Down

Shares of semiconductor giant Broadcom Inc. surged more than 20% in morning trade Friday, pushing its market capitalization beyond the coveted $1 trillion mark for the first time.

The stock reached an all-time high of $221.65, fueled by better-than-expected earnings and a bullish revenue forecast driven by artificial intelligence (AI) applications.

Broadcom's stock movement year-to-date. | Source: TradingView

Broadcom’s milestone rally sparked gains across AI-focused semiconductor stocks, with Marvell Technology, Astera Labs, Ciena, and Credo Technology also hitting record highs.

Broadcom Sentiment and Message Volume on Dec 13 as of 11:05 a.m. ET | Source: Stocktwits

Retail sentiment around Broadcom has surged into the ‘extremely bullish’ zone from ‘bullish’ a day ago, with chatter remaining at ‘extremely high’ levels as investors expected the chip maker to post better-than-expected earnings.

Marvell Technology Sentiment and Message Volume on Dec 13 as of 11:10 a.m. ET | Source: Stocktwits

Meanwhile, retail sentiment around Marvell Technology Inc. jumped to ‘bullish’ from ‘neutral’ even though chatter remained at ‘normal’ levels as the stock surged over 11% in morning trade on Friday to hit an all-time high of $121.86

Like Broadcom, the company expects significant growth in its AI revenue, projecting it to nearly triple to $550 million in fiscal year 2024.

The stock has more than doubled in value so far this year. 

Astera Labs Sentiment and Message Volume on Dec 13 as of 11:15 a.m. ET | Source: Stocktwits

Retail sentiment around Astera Labs remained ‘bullish’ as chatter increased to ‘high’ levels as the stock hit a record of $131.20 after jumping 6% in morning trade on Friday. 

The company’s focus on high-speed connectivity solutions, including optical transceivers and memory modules for hyperscale data centers, positions it as a critical enabler for AI workloads.

The value of Astera Labs stock has also more than doubled so far this year.

Ciena Sentiment and Message Volume on Dec 13 as of 11:20 a.m. ET | Source: Stocktwits

Retail sentiment around Ciena showed the most significant turnaround, surging to ‘extremely bullish’ from ‘bearish’ a day earlier as chatter remained at ‘extremely high’ levels. 

The stock popped over 7% to hit a record high of $90.86 in morning trade on Friday. 

However, some users still have concerns that the stock’s price is held up on guidance after the company missed earnings estimates earlier this week when it announced its fourth-quarter results. 

The stock is just 1% short of doubling its value this year.

Credo Technology Sentiment and Message Volume on Dec 13 as of 11:25 a.m. ET | Source: Stocktwits

Lastly, Credo Technology's stock surged to an all-time high of $73.83 after a 7% bump in morning trade on Friday. 

Retail sentiment around the stock improved to ‘bullish’ from ‘neutral’ a day ago. 

Credo AI's platform helps organizations implement governance frameworks that ensure compliance with global regulations and internal policies. This is particularly crucial as businesses increasingly integrate AI into their operations.

The stock is the front-runner among the group, with gains of more than 300% this year so far. 

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Read also: Broadcom Stock Eyes Record High On AI-Powered Earnings Beat: Retail Bets On $1 Trillion Market Cap