Broadcom’s stock received a boost after an analyst raised the price target to $325 per share, citing the company’s strong position in application-specific integrated circuits for AI solutions. This comes as investors turned to Broadcom following Nvidia’s disappointing earnings report. Broadcom is set to release its third-quarter results soon, with expectations of impressive performance in the AI processing hardware sector. Oppenheimer’s analyst predicts strong results for both the current and following quarters. As of Thursday, Broadcom’s stock closed nearly 3% higher than the S&P 500 index.

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