Growing demand for Broadcom's products and strong financials make it a promising investment.

From Yahoo Finance: 2024-06-22 04:15:00

Artificial intelligence is boosting the revenue and stock prices of tech companies, with analysts predicting the AI market could surpass $1 trillion by the end of the decade.

Broadcom, a semiconductor giant, is experiencing increased demand, leading to a stock price surge of more than 60% this year. The company plans a 10-for-1 stock split next month, reducing the share price from $1,800 to $180.

Despite the split, Broadcom remains a strong buy, with a diverse product portfolio and growing revenue. The company reported a 43% increase in revenue to over $12 billion, with AI revenue jumping 280% to $3.1 billion. With a positive track record and forecasted revenue of $51 billion for the year, Broadcom is poised for growth.

Investors may consider buying Broadcom now rather than waiting for the split, as the stock price may continue to climb, making it more expensive post-split. While short-term fluctuations are unpredictable, long-term investment in Broadcom remains promising.



Read more at Yahoo Finance: Should You Buy Broadcom Now — or After the Stock Split?