10 Hottest Large-Cap Stocks Right Now

8. Broadcom Inc. (NASDAQ:AVGO)

Return: -5.33%

Mirroring the broader tech sector’s downturn, Broadcom Inc. (AVGO) shares experienced a 5.33% decline this week. Given the stock’s strong performance throughout the year, profit-taking activity, particularly pronounced amidst the transition to a new trading year, likely contributed to this pullback. This is evidenced by the elevated trading volume observed on Thursday, with 31.53 million shares changing hands.

As a competitor to NVIDIA, AVGO may encounter similar challenges, including the pressure of high investor expectations. To find out more about this comparison, click here.

Despite achieving a remarkable 114.26% return in 2024, Broadcom Inc. (AVGO) continues to garner ‘Buy’ ratings from analysts. This suggests a strong underlying belief in the company’s continued growth prospects. However, investors should exercise caution following this week’s downturn. While AI demand remains robust and supports long-term bullish sentiment, the recent price weakness warrants careful consideration before jumping back into the stock. Notably, Broadcom surpassed the trillion-dollar market capitalization milestone in 2024, raising the bar for sustained growth expectations.