The Nasdaq Ended February at a Record High. Here's 1 Semiconductor Stock on which Wall Street Keeps Raising Its Price Targets. Hint: It's Not Nvidia or AMD.
2024 has gotten off to a sizzling start in the capital markets. Both the S 500 and Nasdaq Composite have soared to record levels. Make no mistake about it -- both indexes are rising on the heels of a euphoric narrative surrounding artificial intelligence (AI).
The thing with AI is that it can take many forms. From machine learning to big data analytics, AI has an evolving number of use cases. One of the prominent pillars of the AI revolution are semiconductor chips. Companies such as Nvidia and Advanced Micro Devices are leading the charge in high-performance graphics processing units (GPUs) and data center services.
But outside of these two giants lay a number of other players in the chip space. (NASDAQ: AVGO) has also garnered a lot of attention, with many analysts on Wall Street calling for further upside. Given the rocket ship Nvidia is currently on, is now a good time to look for other opportunities in the chip space such as Broadcom? Let's take a look.
Source Fool.com