Jim Cramer on Broadcom (AVGO): “I’m Not Buying the Bear Case”

We recently published a list of Jim Cramer Recently Looked at These 18 Stocks. In this article, we are going to take a look at where Broadcom Inc. (NASDAQ:AVGO) stands against other stocks that Jim Cramer discusses.

Cramer started his 52-week high list with Broadcom Inc. (NASDAQ:AVGO) as he commented:

“It’s important to realize, though, that tech’s not well-represented in the 52-week hot list. In fact, there was only one big one, that’s Broadcom, which reported a small top and bottom line beat after the close with solid guidance for the current quarter. But the stock is just getting hammered in after-hours trading. Now, I think the stock simply came in too hot, given how much it’s run from the April lows. I’m not buying the bear case, which is based on some narrower margins on custom-made chips that it does. It’s just that tech stocks are under pressure and Broadcom wouldn’t be spared today whether it reported or not, and people should recognize that instead of freaking out. It’s up 12% for the year.”

A technician working at a magnified microscope, developing a new integrated circuit.

Broadcom (NASDAQ:AVGO) develops and supplies a wide range of semiconductor devices, including custom chips for networking, wireless communication, broadband, storage, and industrial applications.

Overall, AVGO ranks 1st on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of AVGO as an investment, 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 extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.