As the semiconductor industry continues to thrive, fueled by the expanding demand for 5G, artificial intelligence (AI), and the Internet of Things (IoT), Broadcom (NASDAQ: AVGO) remains a standout player.
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MicroStrategy shares have tripled over the last year as the company's massive Bitcoin holdings grow in value. Broadcom shares have nearly doubled over the last year but could have room to run from robust demand for its AI semiconductor solutions.
Semiconductor giant Broadcom (NASDAQ:AVGO) has certainly been a winner this year, appreciating more than 50%.
Broadcom's stock has gained an average of 40% per year over the last five years, putting it on track for a trillion-dollar market cap fairly soon. The company's growth is driven by its strong position in connected devices and an ambitious foray into AI chip design.
The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.
Zacks.com users have recently been watching Broadcom Inc. (AVGO) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Investors have been waiting for signs the Fed could begin cutting interest rates. Inflationary pressures eased in July, boosting expectations for a September rate cut.
Most mega-cap stocks are household names. These are the corporations that have market caps above $250 billion and are the leaders within their industries.
Broadcom's (NASDAQ: AVGO ) stock may hit new highs as the semiconductor sector will integrate a sharp recovery in the fourth quarter of 2024. As per analysts at Bank of America Securities, the industry has struggled in the third quarter of 2024.
A correction in mega-cap tech stocks emerged as investors shifted from AI winners to small-cap stocks, anticipating potential Federal Reserve rate cuts.
Artificial intelligence (AI) and stock splits are the two hottest trends on Wall Street right now. Three premier AI stocks have announced or completed respective 10-for-1 forward splits since May.