NVIDIA and Broadcom announce 10-for-1 stock splits, reflecting the growing demand for AI technology

From Barchart: 2024-06-18 05:06:00

Wall Street is witnessing a rare convergence of trends with the intersection of artificial intelligence (AI) and stock splits. PwC analysts estimate AI could add $15.7 trillion to the global economy by 2030. NVIDIA and Broadcom have recently announced 10-for-1 stock splits, reflecting the soaring popularity of AI stocks.

NVIDIA, a leader in AI-accelerated data centers, has a 98% market share of AI-GPUs. Broadcom, known for AI-accelerated networking, has formed partnerships with Google and Dell. Both companies have announced 10-for-1 stock splits, reflecting the growth and demand for AI technology in the market.

Costco Wholesale, a warehouse club giant, is a strong contender for a stock split with shares reaching an all-time high of nearly $856. Costco’s competitive advantages lie in bulk purchasing, price advantages, and its membership model. MicroStrategy, with a focus on analytics software and Bitcoin holdings, may also consider a stock split due to its high share price.

Meta Platforms, owner of popular social media platforms like Facebook and Instagram, is a candidate for a stock split with shares ending at over $500. Meta’s broad user base and AI investments position it well for future growth. With a strong balance sheet and potential for continued success, a stock split for Meta is logical in the near future.

Read more at NASDAQ.: Nvidia and Broadcom Have Each Announced Stock Splits: These Are the 3 Most-Logical Candidates to Become Wall Street’s Next Stock-Split Stocks