Broadcom (AVGO) Stock Rated Buy by Goldman Sachs on AI and M&A Strength

Broadcom Inc. (NASDAQ:AVGO) ranks among the best stocks to buy for the next 6 months. On July 10, Goldman Sachs began coverage of Broadcom Inc. (NASDAQ:AVGO) with a Buy rating and a $315 price target. The investment bank pointed to Broadcom’s long-term merger and acquisition strategy, which has allowed it to establish a strong franchise position across many infrastructure software areas.

Broadcom (AVGO) Stock Rated Buy by Goldman Sachs on AI and M&A Strength

According to Goldman Sachs, Broadcom Inc. (NASDAQ:AVGO) will continue to dominate the enterprise networking silicon market and use this advantage to gain the lion’s share of custom silicon processors for major hyperscalers in the United States.

According to the firm, by 2026, artificial intelligence will account for more than 40% of Broadcom’s operations, while the company’s core infrastructure software division continues to produce consistent, increasing profitability.

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

While we acknowledge the potential of AVGO to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AVGO and that has 100x upside potential, check out our report about this cheapest AI stock.

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