1. Broadcom's stock has risen by nearly 21% since the author upgraded its rating to 'Buy' in April 2024, outperforming the S&P 500. 2. The company's Q2 FY2024 financial results showed significant revenue growth, particularly in AI and infrastructure software segments. 3. The author's updated DCF valuation model indicates that Broadcom's stock is undervalued by 38.6%, suggesting a good investment opportunity in the medium term.