12 Best Long-Term Stocks to Buy According to Ken Fisher

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7. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holders: 161

Fisher Asset Management’s Stake: $5.5 billion

Broadcom Inc. (NASDAQ:AVGO) supplies semiconductor infrastructure software solutions. The firm’s fiscal year 2024 revenue grew 44% year-over-year to a record $51.6 billion, as infrastructure software revenue grew to $21.5 billion on the successful integration of VMware. The firm is a significant beneficiary in the AI sector, even amidst the emergence of DeepSeek’s advanced AI models. Broadcom’s dominance in the application-specific integrated circuits (ASICs) market, with an estimated 55% to 60% market share, positions it well to capitalize on this trend. ASICs are designed for specific tasks and are generally more cost-effective and power-efficient than GPUs. As companies seek to reduce their AI development costs, they are likely to turn to Broadcom’s custom AI chips, driving growth in the company’s AI-specific revenue.

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