Jim Cramer’s Bold Predictions About These 15 Tech Stocks

8. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holders In Q3 2024: 128

Date of Cramer’s Comments: 10-10-24

Broadcom Inc. (NASDAQ:AVGO) is one of the most diversified companies in the tech sector. Not only does the firm have wide exposure to semiconductor design and AI, but it also benefits from a high-margin, recurring revenue-driven software business through its cybersecurity arm. Both these factors were also on Cramer’s mind in October when he commented:

“Broadcom makes data center plumbing, but also has a broadband infrastructure business, including cell phones. Now, we had CEO Hock Tan on when he went to San Francisco. He told an incredible story. I was so excited, I was jazzed about it, but nobody listened. Well, now they’ll listen. Stock just hit an all the time high today. It’s not done. I’d hold onto it, especially since its VMware division helps data centers cut harbor costs and operate much more efficiently. And it has really turned the corner. I like that stock very much.”

Broadcom Inc. (NASDAQ:AVGO)’s been on quite a ride since his remarks, as while the shares are up by 21% since then, they actually fell by 14% by November end. However, all of this was reversed by mid-December, when the firm’s CEO shared during its fiscal fourth-quarter earnings call that it expects to earn as much as $90 billion from AI chips over the next three years. According to Broadcom Inc. (NASDAQ:AVGO) CEO Hock Tan, the firm can deploy as many as 1 million custom AI chips by 2025 by working with its three existing hyperscaler customers.