5 Best Long-Term Tech Stocks to Buy According to Hedge Funds

2. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holders: 202

With a five-year forward EPS of over 41%, Broadcom Inc. (NASDAQ:AVGO) ranks among the best long-term tech stocks to buy according to hedge funds.

Broadcom is the leader in custom Application-Specific Integrated Circuits (ASICs), which are used in high-speed computing, hyperscale datacenters, and for the proliferation of AI. AVGO has gained more than 110% in one year as of April 27, still having an upside potential of more than 12% based on ratings from 54 analysts.

Broadcom’s $73 billion AI backlog and growing lineup of hyperscaler and AI lab customers make it a relevant player in the AI space, which is an attractive point for investors.

On April 7, Broadcom signed a long-term partnership deal with Google to develop and supply next generations of custom AI chips and other components for Google’s future AI racks through 2031. Similarly, on April 22, the company expanded its deal with Google Cloud to launch Cloud Network Insights. The platform is built on Broadcom’s AppNeta and is a first-party network observability service to offer end-to-end visibility to complicated agentic, hybrid, and multi-cloud systems.  Cloud Network Insights will assist organizations in monitoring network and application performance, identifying root causes of issues, and minimizing Mean Time to Resolution. These processes will be carried out by accessing network and application-related problems across cloud, on-premises, and SaaS networks.

Broadcom Inc. (NASDAQ:AVGO) is a technology company that specializes in semiconductor devices (through the Semiconductor Solutions segment) and infrastructure software solutions (through the Infrastructure Software segment).