10 AI Stocks on the Market’s Radar

4. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holders: 156

Broadcom Inc. (NASDAQ:AVGO) is one of the 10 AI Stocks on the Market’s Radar. On October 8, Bernstein SocGen Group analyst Stacy Rasgon reiterated an Outperform rating on the stock with a $400.00 price target.

According to the firm, Broadcom’s Q3 earnings were good. Semis and software both performed better than expected. Even though non-AI semis remain slow to recover, AI semis revenues were quite robust at $5.2B.

Moreover, insights from a virtual meeting with Broadcom’s CEO and CFO reveal that compute demand remains robust, while $90B 2030 target seems “easily achievable.”

“Takeaways from a (virtual) meeting with the CEO and CFO; Compute demand remains very strong, noting that hyperscalers/frontier LLM developers face exponentially growing need for compute and thus the recent deals between NVDA/AMD/OpenAI are not surprising. High confidence in achieving growth targets, with $90B 2030 target “easily” achievable just from AVGO’s currently four customers alone (and $120 plausible from them as well). In the near term, Hock reiterated his confidence in the timing of $10B in OpenAI revenue in 3Q26 and noted that additional orders from them are highly likely. AVGO (OP, $400 PT): A strong 2025 AI trajectory seems set to accelerate into 2026, bolstered by software, cash deployment, and superb margins & FCF.”

Broadcom is a technology company uniquely positioned in the AI revolution owing to its custom chip offerings and networking assets.