Jim Cramer Breaks Silence On DeepSeek AI Sell-Off & Discusses These 12 Stocks

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2. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holders In Q3 2024: 128

Broadcom Inc. (NASDAQ:AVGO) is a technology company that is present in the semiconductor and software industries. It was one of the best-performing stocks in 2024 due to its exposure to AI chips. Broadcom Inc. (NASDAQ:AVGO) is one of the few firms in the world capable of designing custom chips. This led the stock to soar by a whopping 62% in December after management revealed that strong demand for AI chips could allow the firm to earn $70 billion in AI revenue in 2027. Yet, the bigger they are, the harder they fall, and Broadcom Inc. (NASDAQ:AVGO)’s stock bled 17.4% during the DeepSeek sell-off. Here is what Cramer said:

“Then there’s fellow travelers, there’s Broadcom, Marvell, that’s all data center. Broadcom of course we know has far more than data center but today no one cares. Extraordinary move up [over the last quarter] because there’ve been so many reasons to buy the stock.”

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