15 Best FAANG Stocks to Buy According to Hedge Funds

Page 8 of 15

8. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holders: 158

Broadcom Inc. (NASDAQ:AVGO) ranks among the best FAANG stocks to buy according to hedge funds. On June 17, Broadcom Inc. (NASDAQ:AVGO) announced that VMware Cloud Foundation (VCF) 9.0, a platform made for contemporary private cloud environments, was now generally available. The company claims that the new platform offers a uniform operating paradigm for private cloud across edge computing, data centers, and managed cloud infrastructure from hyperscalers and service providers.

Platform and development teams will now be able to have a more efficient experience with VCF 9.0, which also offers a uniform interface for cloud managers. The platform supports traditional, cloud-native, and artificial intelligence applications through the incorporated vSphere Kubernetes Service, which allows virtual machines and containers to be managed together.

Additionally, the platform incorporates improvements to Broadcom Inc. (NASDAQ:AVGO)’s advanced services portfolio, including VMware Live Recovery, VMware vDefend, VMware Data Services Manager, VMware Private AI Foundation with NVIDIA, and Avi Load Balancer.

Broadcom Inc. (NASDAQ:AVGO) is a multinational semiconductor company specializing in the design, development, and distribution of a wide range of products.

Page 8 of 15