Broadcom Inc. (NASDAQ: AVGO) is highlighted as one of the trending AI stocks on Wall Street. Oppenheimer reiterated an “Outperform” rating ahead of earnings on September 4. Analysts consider Broadcom the no. 2 AI franchise after Nvidia, with a strong presence in the AI ASIC market. The company leads in custom AI ASICs with projects from Google, Meta, and ByteDance USA. The stock is recommended with a new $325 target price.

Broadcom’s core businesses in networking, wireless, broadband, server, and storage support sustainable growth and cash return. The firm remains long-term buyers of the stock due to its unique position in the AI revolution. While AVGO is seen as a solid investment, other AI stocks may offer greater upside potential with lower downside risk. For more insights, check out the best short-term AI stock.

In a competitive AI stock market, analysts are constantly evaluating new opportunities and trends. Stay informed with updates on 10 AI stocks hit with new analyst ratings and 10 AI stocks analysts say you shouldn’t ignore. Disclosures: None.

Read more at Yahoo Finance: Broadcom (AVGO) Tipped as No. 2 AI Franchise After Nvidia