10 Trending AI Stocks on Wall Street Right Now

2. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holders: 158

On June 3rd, Citi reiterated Broadcom Inc. (NASDAQ:AVGO) as “Overweight” and raised its price target on the stock to $276 from the previous $210 ahead of earnings on Thursday.

The reaffirmation from Citi reflects its continued confidence in Broadcom’s market position and growth prospects.

Broadcom is scheduled to announce its results for the second quarter of Fiscal 2025 on Thursday, June 5, after the market closes. The firm has highlighted artificial intelligence tailwinds for the stock.

“With its non-AI semi business down roughly 40% from the peak, we believe the business should recover from the current levels and offset most of the gross margin dilution from its AI business. We raise our estimates, reiterate our Buy rating on AVGO and raise our price target from $210 to $276.”

In other news, Seaport also reiterated Broadcom as “Buy,” stating that it’s sticking with the stock heading into earnings on Thursday.

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