16 Trending AI Stocks on Latest Analyst Ratings and News

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8. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holders: 130

Broadcom Inc. (NASDAQ:AVGO) supplies semiconductor infrastructure software solutions. The company, as part of a larger effort to kickstart AI marketing, recently announced several AI-enabled tools for VMware, a cloud computing firm bought by Broadcom in a deal close to $70 billion last year. The tools cater to the edge computing market, a rapidly growing space within the AI universe that will be worth nearly $232 billion this year. Sanjay Uppal, an executive of the chipmaker, said during the launch that the tools uniquely offered enterprises a good, better, best approach to connectivity at the edge by allowing them to tweak real-time WAN performance, gain insights from the network, and program the network.

The AI buzz around Broadcom Inc. (NASDAQ:AVGO) has reached Wall Street as well. TD Cowen recently raised the price target on the shares to $210 from $175 and kept a Buy rating, noting that the stock offered broad revenue exposure to hyperscale, artificial intelligence, telecom, and enterprise, with investors willing to pay a premium for a unique quality semis/software franchise with industry-leading margin.

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