Broadcom and market capitalisation
Market capitalisation:
- Broadcom $AVGO+3.9% reached a market capitalization of $839 billion
- The company is just behind Berkshire Hathaway in the market value rankings
Growth in June:
- Broadcom saw a 35% increase in market capitalization for June
- Growth was driven by increased demand for AI technologies
Morgan Stanley assessment:
- Morgan Stanley rated Broadcom "overweight"
- The rating followed the successful acquisition of VMware
Potential to replace Tesla:
- Broadcom $AVGO+3.9% could replace Tesla in the "magnificent seven" group of tech giants
- Reason: significant growth and strong position in the AI technology market
Very high quality company and for the portfolio why not, but the price is currently too high.