Is Broadcom Stock the Next Nvidia?
The current wave of artificial intelligence (AI) adoption began in early 2023, after the introduction of ChatGPT highlighted the vast potential applications involving generative AI. Nvidia (NASDAQ: NVDA), with its industry-leading graphics processing units (GPUs), quickly became the standard-bearer for the AI revolution. Its stock has gained 1,160% since then, which has investors eager to find the next Nvidia, and a strong contender could be hiding in plain sight.
While Nvidia stock has gained a respectable 33% over the past year, (NASDAQ: AVGO) has been on a tear, as its stock has soared 96% (as of this writing). Several recent developments help illustrate why investors are increasingly bullish on Broadcom stock, and why the company could well be the next Nvidia.
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Source Fool.com
Broadcom Ltd. Stock
The stock is one of the favorites of our community with 94 Buy predictions and 1 Sell predictions.
As a result the target price of 342 € shows a slightly positive potential of 15.42% compared to the current price of 296.3 € for Broadcom Ltd..
