17 Stocks Jim Cramer Talked About

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9. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holdings: 183

Broadcom Inc. (NASDAQ:AVGO) is a semiconductor designer and enterprise software provider. Its shares are up by 42% over the past year and down by 6.5% year-to-date. DA Davidson initiated coverage on the stock in February. It set a $335 share price target and a Neutral rating. The financial firm outlined that while Broadcom Inc. (NASDAQ:AVGO) does face tailwinds from the demand for AI chips, the firm could experience limited growth in the market for application-specific integrated circuits (ASICs). ASICs are commonly known as custom AI chips, and Broadcom Inc. (NASDAQ:AVGO) is among the handful of players that operate in this market. Jefferies also discussed the shares in February. It kept a Buy rating and a $500 share price target and pointed out that the chip company is a strong player in the AI and networking industries. Cramer’s previous comments about Broadcom Inc. (NASDAQ:AVGO) have focused on the firm’s CEO, Hock Tan. In this appearance, he discussed the stock in relation to storage device manufacturers:

“But if the shortage stocks, like Micron, Western Digital, Seagate, Sandisk, if the shortage stocks come down then what’s going to happen is you’re going to see a rally in Broadcom, you’re going to see a rally in. . .NVIDIA, and you’re going to see a rally in AMD.”

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