Goldman expresses 'higher conviction' as Broadcom jumps 9%, extending record run.

• On Monday, Broadcom's market cap surpassed $1 trillion after reaching that milestone last week.
• Goldman Sachs analysts increased their stock price target from $190 to $240, expressing greater confidence in the company's future prospects.
• The stock is now up almost 120% for the year.

On Monday, the stock that surpassed $1 trillion in market cap on Friday and experienced a 24% increase on its best day ever, rose another 9%, fueled by higher price targets from Wall Street.

The analysts expressed increased confidence in the company's future revenue and earnings growth prospects in a report dated Dec. 15.

Broadcom shares have increased by almost 120% this year, reaching a high of $245.29 on Monday. Nvidia, which has benefited from the AI craze due to its popularity as a supplier of graphics processing units (GPUs), has experienced a growth of over 165% this year, with a market cap of $3.2 trillion. The Nasdaq has also risen by 34%.

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