10 High-Flying AI Stocks on News and Ratings

3. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holders: 128

Broadcom Inc. (NASDAQ:AVGO) is a technology company uniquely positioned in the AI revolution owing to its custom chip offerings and networking assets. On February 17, Analyst Fang Boon Foo of DBS maintained a “Buy” rating on the stock and retained the price target of $250.00. Broadcom’s strategic acquisitions and strong financial performance have led to Boon Foo’s optimism. In particular, the analyst highlighted the recent acquisition of VMware which has boosted Broadcom’s position in the infrastructure software market.

Being a key player in the custom AI chip market, it is well-positioned to benefit from the AI boom with substantial revenue growth anticipated. The company also has a solid growth trajectory driven by its impressive 10-year compound annual growth rate in revenue and EBITDA and its strategic shift towards software. Finally, the firm anticipates strong business momentum due to the company’s AI-chip demand and the VMware acquisition.