Broadcom (AVGO) Stock Gets Fresh Bullish Endorsement from Mizuho Analysts

Broadcom Inc. (NASDAQ:AVGO) is one of the AI Stocks Investors Are Watching CloselyOn October 3rd, Mizuho reiterated the stock as a “Top Pick.” The firm said the stock is on the top picks list.

“AVGO remains an industry leader with strong profitability…”

Following the October 3 reiteration, the firm once again reiterated an Outperform rating on the stock on October 6, with a price target of $410.00. The move came despite investor concerns about potential margin dilution.

Accelerating ASIC revenues and expanding customer engagement has led the firm to term the stock as the “King of AI Custom Silicon.” It recommends customers to buy the stock on the recent pullback.

Broadcom is a technology company uniquely positioned in the AI revolution owing to its custom chip offerings and networking assets.

While we acknowledge the risk and potential of AVGO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than AVGO and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 Buzzing AI Stocks on Wall Street and 10 AI Stocks Shaping Wall Street’s Next Big Rally

Disclosure: None.