Broadcom Stock Rose 100% in 2023. Can It Double Again in 2024?
Broadcom (NASDAQ: AVGO) is a stock that may get overlooked by small investors. Since its clients are primarily other businesses, it does not have the direct connection with consumers that has benefited brands like or Amazon.
Nonetheless, its success has taken its market capitalization to nearly $570 billion, and the stock continues to rise after having doubled in 2023. Does that massive size mean it can't double again in 2024?
Broadcom began as Avago Technologies. As a business-to-business chip designer, it spends heavily on research and development, employing engineers near its largest clients to design semiconductors that meet those clients' needs. This has helped it with innovations such as Apple's Wi-Fi hotspot chip and numerous other semiconductors.
Source Fool.com
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