15 AI Stocks That Are Quietly Making Investors Rich

9. Broadcom Incorporated (NASDAQ:AVGO)

Broadcom Incorporated (NASDAQ:AVGO) is one of the 15 AI stocks that are quietly making investors rich.

As of the March 11 closing, Broadcom Incorporated (NASDAQ:AVGO) carried a strongly bullish consensus sentiment. The stock has received coverage from 29 analysts, 27 of whom assigned Buy ratings and 2 gave Hold calls. With no Sell rating, it has a projected median 1-year price target of $467.68, which leads to an upside potential of almost 37% at the current level.

On March 5, JPMorgan increased the firm’s price target on Broadcom Incorporated (NASDAQ:AVGO) from $475 to $500, resulting in an adjusted upside potential of more than 46% for investors. The firm maintained an Overweight rating on the shares after the company reported better-than-expected January quarter results.

JPMorgan noted that Broadcom Incorporated (NASDAQ:AVGO) also issued a solid revenue outlook for the April quarter, reflecting continued business momentum. The firm also added that the company is seeing ongoing strength in its AI segment.

On March 5, Jim Kelleher from Argus also raised the firm’s price target on Broadcom Incorporated (NASDAQ:AVGO) from $375 to $425. The analyst reiterated his Buy rating on the shares, which offer a revised upside potential of more than 24%.

Broadcom Incorporated (NASDAQ:AVGO) is a technology company and a global supplier of semiconductor devices and infrastructure software services. The company delivers networking connectivity, wireless device connectivity, and servers and storage solutions. It also has an extensive suite of private cloud offerings such as VMware Cloud Foundation, Edge, telco cloud platform, private AI, and more.