Although Broadcom's high valuation, the company's performance in the first quarter still impressed investors.

Broadcom's stock price rose by 5% after announcing its performance, despite investors being skeptical. Direxion Capital Markets Director Jack Behan said that because Broadcom's stock valuation is very high, investors' expectations are also particularly high, making it a strong competitor to Nvidia. Behan said that Broadcom's $10 billion stock buyback authorization is boosting the stock price after hours. Expectations for Broadcom's revenue also helped boost confidence, with the forecast exceeding analysts' expectations by nearly $2 billion, and its prediction for AI revenue in the current quarter reaching $10.7 billion also helped boost confidence.