Shares of Broadcom Corp. were up more than 20% near the close of trading Friday, a day after the Irvine chipmaker beat quarterly expectations and upped its outlook for the current quarter.
The gain pushed Broadcom’s market value to $24 billion, the highest since early 2001, the waning days of the technology boom.
Broadcom on Thursday easily beat Wall Street expectations for sales and profits.
The Irvine chipmaker also raised its guidance for the current quarter. The company expects sales of $865 million to $875 million for the period.
