10 Best Predictive Analytics Stocks to Invest in Now

8. Broadcom Inc. (NASDAQ:AVGO)

Analyst upside as of November 11, 2024: 12% 

Broadcom Inc. (NASDAQ:AVGO) designs and develops a range of semiconductor products and is well known for making application-specific integrated circuits (ASICs). It also provides infrastructure software products. Some of its products include cable modems, networking processors, and storage adapters. The company serves the data center, networking, software, broadband, storage, and wireless markets.

Broadcom Inc. (NASDAQ:AVGO) offers predictive analytics through its Automation Analytics and Intelligence platform. The platform offers workload automation solutions supported by a predictive analytics workload platform allowing entities to visualize data and manage complex workloads that facilitate the development of crucial business insights.

Some key features of the platform by Broadcom Inc. (NASDAQ:AVGO) include cross-platform visibility, dynamic service level management, enhanced workload analytics, business monitoring, enhanced change control, and dynamic critical path discovery. All these features combined put AVGO ahead of its competitors.

Overall, Broadcom Inc. (NASDAQ:AVGO) is a rapidly growing company with expertise in ASICs, infrastructure software, and data analytics, contributing to its ranking on our list. Analysts are also bullish on the stock and their median price target of $200 implies an upside of 12%, as of November 11.

Baron Opportunity Fund stated the following regarding Broadcom Inc. (NASDAQ:AVGO) in its Q3 2024 investor letter:

“We continued to build our position in Broadcom Inc. (NASDAQ:AVGO), a global technology leader that designs, develops, and supplies a broad range of semiconductor and infrastructure software solutions. As AI continues to proliferate, we believe hyperscalers – such as Meta, Microsoft Azure, Google Cloud Compute, and Amazon Web Services, to name just a few – will increasingly deploy custom accelerator chips for their AI workloads as they can be more cost-effective and energy-efficient than using NVIDIA’s general-purpose GPUs. Broadcom has a leading position partnering with hyperscalers to develop these custom chips, with its AI customer accelerator business up 3.5-times year-over-year in its most recently reported quarter, and a goal of at least $8 billion in custom accelerator revenues for this fiscal year. Additionally, VMware continues to perform better than expected as Broadcom is implementing its product simplification and subscription revenue model strategy. Further, its non-AI related semiconductor business, which tends to be more cyclical, is in the early stages of a recovery. Combined, all these factors will drive strong revenue and earnings growth over the next several years.”