From Nasdaq: 2024-09-16 08:47:00

Zacks.com features NVIDIA Corp., Broadcom Inc., Apple Inc., and Taiwan Semiconductor in their Analyst Blog. The recent dip in tech stocks, including chipmakers, raised concerns of an AI bubble akin to the dot-com crash. However, AI applications in various sectors are driving chip stocks like NVDA, AVGO, and TSM upwards.

AI’s practical applications differentiate it from the speculative nature of dot-com ventures. AI adoption across industries reduces the risk of sector-specific bubbles. Established infrastructure like cloud computing supports AI implementation, unlike the dot-com era.

The global AI industry is projected to surpass $826 billion by 2030, with rapid growth expected. NVDA, AVGO, and TSM are well-positioned to benefit from this boom. NVIDIA’s GPUs are crucial for AI applications, while AVGO and TSMC play key roles in the AI ecosystem, driving stock price growth.

NVIDIA, Broadcom, and TSMC have seen significant stock price growth this year. Brokers have raised average short-term price targets for NVDA, AVGO, and TSM, signaling potential upside. NVDA is predicted to have up to 71.1% price increase, AVGO up to 51.6%, and TSM up to 46.9%.

Zacks’ top stock-picking strategies have consistently outperformed the S&P 500. With potential for substantial gains, investors should consider AI-focused chip stocks like NVDA, AVGO, and TSM as strong opportunities for wealth accumulation. These stocks have a Zacks Rank #3 (Hold), with potential for significant upside in the near future.



Read more at Nasdaq: The Zacks Analyst Blog NVIDIA, Broadcom, Apple and Taiwan