10 Trending AI News Updates on Investors’ Radar

4. 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 18, Wells Fargo analyst Aaron Rakers highlighted that there has been an abundance of media reports debating whether a TSMC and Broadcom Inc. (NASDAQ:AVGO) takeover via separation of Intel would be possible and/or feasible. Even though the firm is skeptical, it noted that such a move would be positive.

It further noted that if such a transaction were to take place, the main question would be whether Intel management can extract a break-down value greater than its current $125B enterprise value. Broadcom has been examining Intel’s chip design and marketing business, discussing a potential bid with its advisers that it would likely proceed with if it found a partner for Intel’s manufacturing business, notes The Wall Street Journal. Broadcom and TSMC are not working together.

Analysts on Wall Street currently have a consensus “Buy” rating on the stock. The average price target of $250 implies a 9% upside, however, the Street-high target of $300 implies an upside of 31%.