10 Best US Stocks to Buy According to Billionaires

6. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holders: 158

Dollar Value of Billionaire Holdings: $14.46 billion

Number of Billionaire Investors: 26

Broadcom Inc. (NASDAQ:AVGO) is one of the best US stocks to buy according to Billionaires. On July 13, Broadcom reportedly canceled its plans to invest in a microchip plant in Spain, according to news agency Europa Press. The news comes after talks between Broadcom and the Spanish government broke down, although the specific reasons for the collapse were not immediately disclosed in the initial report.

Neither Spain’s Digital Transformation Ministry nor Broadcom has yet commented on the matter. Nonetheless, the withdrawal is a setback for Spain’s ambition to become a major player in Europe’s microchip industry. The Spanish government had previously committed to allocating ~$14 billion towards its Strategic Project for Economic Recovery and Transformation/PERTE Chip program to support the semiconductor and microchip industry using funds from the EU’s pandemic relief.

Broadcom initially announced its intention to invest in Spain 2 years prior, in mid-2023. While the company did not disclose the exact investment amount at the time, the Spanish government had indicated that the project could be worth ~$1 billion and involve the construction of large-scale back-end semiconductor facilities unique in Europe.