Adobe and Broadcom's Results Look Like Great News for the Rest of the Tech Sector

The current technology sector rally has been largely driven by Apple, Microsoft, and the semiconductor industry. Broadly speaking, the software industry has been lagging behind. However, Adobe's (NASDAQ: ADBE) latest quarterly results show that its artificial intelligence (AI) investments are paying off. Meanwhile, Broadcom (NASDAQ: AVGO) is on track to generate over $50 billion in revenue this fiscal year -- a milestone for the chip company. And the things that are going right for Adobe and Broadcom show why the technology sector deserves its premium valuation.Image source: Getty Images.After releasing downbeat full-year guidance in its fiscal first-quarter report, Adobe surprised investors by raising its guidance after delivering blowout fiscal second-quarter earnings. For the period, which ended May 31, the company announced solid results across its Creative Cloud, Document Cloud, and Experience Cloud segments, especially with enterprise customers.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Zum vollständigen Artikel