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Here’s everything you need to know today: There are currently 14,157 publicly traded companies in the United States and over 1000+ articles released about S&P500 companies alone every single day. Today we will be showing you the top 3 events that you need to know today:

Market Performance (1 year)

1. Dow - 18.25%

2. S&P 500 - 28.31%

3. Nasdaq - 30.86%

4. Bitcoin - 135.27%

Today (Here’s 3 things you need to know)  

1. Broadcom soars over 20% on AI market opportunities

1 Year Performance (AVGO): +96.09%

Broadcom (AVGO) shares soared over 20% as the company unveiled significant growth opportunities in the AI market during its quarterly earnings call.

CEO Hock Tan projected that custom AI chips, known as XPUs, could generate between $60 billion and $90 billion in revenue over the next three years from its three current hyperscaler customers.

Tan emphasized the massive scale of demand, expecting 1 million XPU clusters to be deployed by 2025.

Additionally, Broadcom announced the addition of two new hyperscaler customers, currently in advanced development of next-generation XPUs.

Though the company did not officially name them, reports suggest these customers could include OpenAI and Apple (AAPL), further enhancing Broadcom’s AI-driven growth potential.

The projections and new client acquisitions underscore Broadcom’s pivotal role in the AI hardware ecosystem, fueling investor confidence.

2. Costco misses estimates for second straight quarter

1 Year Performance (COST): +55.34%

Costco Wholesale Corp. (COST) reported mixed fiscal first-quarter results, with sales missing Wall Street estimates for the second consecutive quarter. While net income rose to $1.79 billion ($4.04 per share), beating analyst expectations, net sales climbed 7.5% year-over-year to $60.99 billion, falling short of FactSet’s forecast of $66.52 billion.

Despite this, Costco’s stock remains resilient, up 50% this year, buoyed by the company’s ability to attract high- and low-income shoppers seeking value amid rising prices. E-commerce sales rose 13%, and executives highlighted strong performance in high-end offerings like wagyu beef and gold jewelry, as well as cost-friendly fresh food items.

The pharmacy segment emerged as a standout performer, delivering the strongest sales growth within Costco's ancillary businesses.

CEO Ron Vachris and CFO Gary Millerchip emphasized the segment’s potential as the company capitalizes on disruptions in the retail pharmacy market, with innovations like prescription-delivery partnerships with Instacart and Uber Technologies (UBER).

As traditional drugstores face headwinds from inflation, competition, and closures, Costco aims to strengthen its foothold with low prices and convenient services.

While the recent membership fee increase has yet to significantly impact revenue, executives remain optimistic about future growth fueled by higher-income shoppers and younger demographics.

3. AppLovin is up over 750% this year, can it keep rising?

1 Year Performance (APP): +768.69%

AppLovin Corporation (APP) has achieved a remarkable 748% year-to-date stock price increase, outpacing the 54% rally in its industry and outperforming competitors like Alphabet Inc. (GOOGL) and Meta Platforms (META), which gained 40% and 79%, respectively.

This surge is underpinned by robust financial results, driven by advancements in AXON 2.0 technology and strategic expansion into gaming studios. In Q3 2024, revenue rose 39% year-over-year, while adjusted EBITDA increased 72%.

The company’s net income jumped 300% from the year-ago period. APP also boasts a strong liquidity position, with a current ratio of 2.41, comfortably above the industry average.

Leveraging its cross-network advertising, in-app user data, and innovative technology, APP is positioned for sustained growth in gaming and beyond.

Market Memes Of The Day

Broadcom is up over 20% since we recommended it earlier this week. Get more picks like Broadcom…

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