Broadcom Inc. (NASDAQ:AVGO) is without doubt one of the Trending AI Shares on Wall Avenue. One of many largest analyst calls on August 28 was for Broadcom. Oppenheimer reiterated the inventory as “Outperform” stating that it’s sticking with Broadcom forward of earnings on September 4.
The analyst acknowledged that Broadcom is the “no. 2 AI franchise” after Nvidia because of its management within the AI ASIC, or Software-Particular Built-in Circuit, market.
The analysts famous how progress continues to be led by AI compute/networking franchises for Broadcom, and that the corporate is the highest maker of customized AI ASICs with seven introduced tasks led by Google, Meta, and ByteDance USA.
“Reiterate Outperform with new $325 goal (prior $305).”
TaLaNoVa/Shutterstock.com
The agency additionally mentioned that it stays “long-term patrons,” for the inventory and that its core companies in networking, wi-fi, broadband, server and storage, and software program all assist “sustainable progress and money return.”
Broadcom is a know-how firm uniquely positioned within the AI revolution owing to its customized chip choices and networking belongings.
Whereas we acknowledge the potential of AVGO as an funding, we imagine sure AI shares provide larger upside potential and carry much less draw back danger. If you happen to’re searching for a particularly undervalued AI inventory that additionally stands to learn considerably from Trump-era tariffs and the onshoring pattern, see our free report on the finest short-term AI inventory.
READ NEXT: 10 AI Shares Hit with New Analyst Rankings and 10 AI Shares Analysts Say You Shouldn’t Ignore
Disclosure: None.
