Top 10 AI Stocks on Wall Street’s Radar

3. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holders: 128

Broadcom Inc. (NASDAQ:AVGO) is a technology company that offers custom chips and networking assets. One of the biggest analyst calls on Wall Street on Monday, January 6th, was for Broadcom. Bernstein reiterated the stock as “Outperform”, stating that it is bullish on it in 2025. The company has had a remarkable 2024, reporting a 220% year-over-year growth in AI-related revenue for its 2024 fiscal year, which amounts to US$12.2 billion. Moreover, the completion of the acquisition of VMWare is anticipated to contribute positively to Broadcom’s financial performance. Broadcom also targets $60 to $90 billion in AI revenue by FY’27, implying strong growth potential in the AI sector.

“Our top AI picks remain NVDA (still the best way to play AI and right at the start of a new product cycle), and AVGO (benefiting from their own potential ‘Nvidia’ moment as well as a significantly-reset core and significant VMware accretion on the way)”.