12 Best Innovative Stocks to Buy Now

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4. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holders: 156

Broadcom Inc. (NASDAQ:AVGO) is one of the best innovative stocks to buy now. On September 17, Lloyds Banking Group (NYSE:LYG) and Broadcom announced an expansion of their long-standing partnership with a new multi-year agreement during the VMware Explore on Tour event in London. The extension is set to accelerate Lloyds Banking Group’s ambitious digital transformation strategy.

The deal will deepen the Group’s use of Broadcom’s infrastructure software portfolio, including VMware Cloud Foundation and mainframe solutions, to enhance the resilience, agility, and scalability of its technology estate. The infrastructure upgrade is critical to the Group’s ability to deliver faster, more reliable digital services to the 28 million customers and businesses it supports across the UK.

The Group will deploy VMware Cloud Foundation to consolidate its data centers, establishing a consistent operating model across its private cloud environment. Additionally, Broadcom’s mainframe solutions will continue to underpin Lloyds’ mission-critical workloads. These solutions offer advanced automation, intuitive tooling, and seamless integration into hybrid environments.

Broadcom Inc. (NASDAQ:AVGO) designs, develops, and supplies semiconductor devices and infrastructure software solutions. The company operates through two segments: Semiconductor Solutions and Infrastructure Software.

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