Mizuho Remains Bullish on Broadcom Inc. (AVGO) in Anticipation of AI-Driven Growth

Broadcom Inc. (NASDAQ:AVGO) is one of the must-buy US stocks to buy now. On October 21, Mizuho analyst Vijay Rakesh raised Broadcom Inc. (NASDAQ:AVGO)’s stock price target to $435 in anticipation of more artificial intelligence-driven growth.

Mizuho Lifts Broadcom Inc. (AVGO) Price Target in Anticipation of AI-Driven Growth

The analyst expects the semiconductor company to benefit from its strategic partnerships with Anthropic and OpenAI. According to the research firm, Anthropic has grown to become the company’s fourth-largest customer. Likewise, it expects its expanding artificial intelligence rack deployments to generate about $10 billion in revenue for the company in the second half of 2026.

Mizuho has also cited the introduction of new networking technologies that are helping support Broadcom’s AI buildout. The research firm has also echoed the company’s third-generation co-packaged optics (CPO) Ethernet switch, Tomahawk 6-Davisson, which requires 70% less power. The research firm expects the new Ethernet for Scale-Up Network to expand the scope initially covered by SUE-T.

Broadcom Inc. (NASDAQ:AVGO) is a technology company that designs, develops, and supplies semiconductor and infrastructure software solutions for industries like cloud, data center, networking, and cybersecurity.

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