Broadcom: stock growth and strong AI market position
- Stock Growth:$AVGO+2.2% shares are up+2.2%nearly 50%, driven by increased demand for artificial intelligence (AI) chips and collaborations with leading technology companies.
- AI revenue: $AVGO+2.2% plans to reach $12 billion in AI revenue by 2024, significantly strengthening its position in the AI technology market.
- Expert opinion: analyst Sebastien Naji expects continued growth for $AVGO+2.2%, mainly due to the growing demand for custom chips, which are key to the development and operation of AI technologies.
- Long-Term Potential: $AVGOhas afavorable valuation and strong upside potential, suggesting that the stock has further room to grow, especially in the context of AI industry development.
Broadcom is great. It's hard to make a mistake there. Sure, a lower price would probably please anyone looking to buy, but I wouldn't count on big drops.
I've had Broadcom on my watchlist for a long time, but unfortunately the stock still hasn't dropped to a price I'd like to buy at.