Wall Street Undervalues Broadcom’s (AVGO) ASIC Story, HSBC Says

Broadcom Inc. (NASDAQ:AVGO) is one of the Trending AI Stocks on Wall Street. On December 8, HSBC analyst Frank Lee reiterated a Buy rating on the stock with a $535.00 price target. The firm believes that the Street undervalues ASIC upside ahead of the print. Broadcom shares have rallied an estimated 15% since November 18 following Alphabet’s launch of its Gemini 3 model. The model has been completely trained on TPUs which Broadcom helps design and supply. This is in contrast to previous models which were ...