(NASDAQ: AVGO) stock is on a tear in 2024, rising 28% in the year's first two months as investors search frantically for a way to invest in the artificial intelligence (AI) revolution ... without paying up for Nvidia's $2 trillion market capitalization.

At a market cap less than one-third of Nvidia's, and only half the price-to-sales ratio, investors may see Broadcom as a cheaper play on AI. One investor arguing like this is investment bank Oppenheimer, which on Friday raised its price target on Broadcom stock to a mind-boggling $1,500 per share.

Is Oppenheimer right?

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Source Fool.com