We recently published 13 Stocks Jim Cramer Talked About. Broadcom Inc. is one of the stocks that Jim Cramer talked about.
Broadcom Inc. designs and sells chips that are used in applications such as data centers and telecommunications networks. Jefferies kept a Buy rating and a $500 share price target on the shares in February. The bank noted that Broadcom Inc. stands to benefit from its presence in the AI space and added that it was ahead of MediaTek for some chips. Cramer has discussed the firm several times over the past few months. He has repeatedly praised Broadcom Inc.’s CEO Hock Tan and called him one of the top executives in the industry. UBS kept a $475 share price target and a Buy rating on the stock in February. It pointed out that Broadcom Inc. could benefit from the growth in demand from tensor processing units (TPUs) that are shaping up to become an alternative to AI GPUs. Cramer remarked that the stock should be up more:
“Okay so I think NVIDIA would say, they’re gonna have so much business that we aren’t cutting everybody back, yes. But the fact is, is that everyone [inaudible] says listen we can’t away from NVIDIA. Because it just has too much training, fantastic for training. But Broadcom I thought would have been up more. That’s a real winner. Look, Jensen Huang invented the category. He’s so far ahead of everybody else, the new Vera Rubin is going to be great, the software stack on top is terrific. . .Jensen’s the king, nobody’s unseating the king.”
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This article is originally published at Insider Monkey.
