Is Broadcom the Under-the-Radar AI Semiconductor Stock to Buy in 2024?
Everybody knows (NASDAQ: AVGO) as a giant in the semiconductor industry. With a $583 billion market cap and annual revenues of $35.8 billion, the company stands shoulder to shoulder with household names like Intel and Nvidia.
Best known for making chips that move data through many kinds of networks and systems, you might not think of Broadcom as a play on the artificial intelligence (AI) boom. As it turns out, Broadcom's networking solutions play a crucial role in large-scale AI systems. In particular, generative AI tools such as OpenAI's ChatGPT and DALL-E 3 accounted for 15% of Broadcom's chip sales last year -- with an even higher target in 2024.
Does the rapid growth in AI-related sales make Broadcom a no-brainer buy in 2024? Let's take a look.
Source Fool.com
Broadcom Ltd. Stock
With 79 Buy predictions and not a single Sell prediction Broadcom Ltd. is an absolute favorite of our community.
With a target price of 1713 € there is a slightly positive potential of 14.98% for Broadcom Ltd. compared to the current price of 1489.8 €.
