Bullish on Broadcom: Why This AI Chip Stock Could Soar More Than Its Rivals

Broadcom (NASDAQ:AVGO) stock saw a 51% rise in value year-to-date and over a 500% increase in five years. The company’s second-quarter revenue reached $12.5 billion, up 43% year-over-year, with AI products hitting a record $3.1 billion. Following its VMware acquisition, Broadcom raised its fiscal 2024 forecast to $51 billion. Broadcom supplies crucial components for data centers, including networking chips and accelerators. AI revenue, though currently small at $3.1 billion, is projected to rise significant ...