5 Best Stocks to Buy Now for High Returns

​2. Broadcom Inc. (NASDAQ:AVGO)

EPS Growth Next Year: 67.91%

Number of Hedge Fund Holders: 173

Broadcom Inc. (NASDAQ:AVGO) is one of the Best Stocks to Buy Now for High Returns. Broadcom Inc. (NASDAQ:AVGO) maintains its upward trajectory with more than 7.8% gains over the past month. Recent gains have been driven by a multi-year partnership extension with Apple and surging AI semiconductor demand. Wall Street anticipates more than 30% upside over the next 12-months, driven by accelerating custom ASIC revenue.

​Recently, on July 8, Reuters reported that Apple plans to spend more than $30 billion under a multi-year chip supply deal with Broadcom. This move comes as the Trump administration pushes for expanded domestic chip manufacturing. The report noted that the deal, which was finalized earlier this week, will run through 2031. It covers FBAR filters, which are radio-frequency chips used for wireless connectivity in Apple devices. Apple and Broadcom have been developing these chips together since 2023.

​Moreover, as part of the deal, the company will also invest $1.5 billion to expand its Fort Collins, Colorado, factory. Reuters noted that Apple said the expansion will produce at least 15 billion chips and support its broader effort to source more components domestically. In addition, CEO Tim Cook said that the Fort Collins components are essential to the performance and connectivity customers expect.

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).