Is Broadcom an Artificial Intelligence (AI) Stock to Buy Hand Over Fist Before Its Big News on Thursday?
What are the hottest stocks on the market right now? Those with a major focus on artificial intelligence (AI). (NASDAQ: AVGO) stands out as a great example, with its shares skyrocketing more than 130% over the last 12 months.
The semiconductor and infrastructure software company could have a catalyst that'll send its share price even higher on the way soon. It's scheduled to announce its fiscal 2024 first-quarter results after the market closes on March 7, 2024. Is Broadcom an AI stock to buy hand over fist before its big news on Thursday?
With Broadcom's share price soaring so much, you might think that the company's revenue would be growing rapidly too. However, that's not the case. In the fourth quarter of fiscal 2023, Broadcom's revenue rose by only 4% year over year.
Source Fool.com
Broadcom Ltd. Stock
The stock is an absolute favorite of our community with 65 Buy predictions and no Sell predictions.
Based on the current price of 143.9 € the target price of 1384 € shows a potential of 861.78% for Broadcom Ltd. which would more than double the current price.
