Broadcom Inc. AVGO has been on an impressive upward trajectory, up 100% over the past year and increasing 56% year-to-date. The stock touched a new record high of $1,851.62 on Tuesday.
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Broadcom is a picks-and-shovels way for investors to bet on AI. The company recently announced a 10-for-1 stock split expected to go live next month.
Broadcom is a major player in AI and is expecting strong revenue growth. The company's recent acquisition is now a major part of its growth.
Broadcom's AI revenue has surged, although AI only makes up a quarter of its total revenue. Other parts of its business saw pressure due to cyclical spending headwinds.
Investors searching for stocks that will grow their portfolio and provide a strong return on capital should pay attention to analyst ratings, particularly the ones placed on strong buy growth stocks. Analysts are selective about the stocks they give their highest ratings to and are growing increasingly picky as the market rallies to all-time highs.
Growing demand for custom AI chips and networking switches is driving solid growth for Broadcom. Booming demand for cloud-based AI services has opened up a new growth avenue for Oracle.
Nvidia and Broadcom are using stock splits to keep their share prices manageable after exponential growth. Both companies remain long-term buys.
Broadcom's (AVGO) Symantec cybersecurity solutions successfully completed the Information Security Registered Assessors Program (IRAP) assessment.
The stock split is not the only reason investors are talking about Broadcom stock.
Broadcom is digesting a significant business acquisition that should boost revenue for the tech giant.
Nvidia and Broadcom both decided a stock split was in the best interest of shareholders.