Nvidia Soared Almost 30% Ahead of Its Stock Split. Can Broadcom Do the Same?
Investors cheered when Nvidia (NASDAQ: NVDA) announced a 10-for-1 stock split during its earnings report in late May. And in the two weeks that followed -- the time leading up to the operation -- the shares climbed nearly 30%. Investors like stock splits because they bring the prices of high-flying stocks down, opening them up to a broader range of buyers, and they show the particular company is confident about its future -- the idea is the company believes its stock has what it takes to climb once again.
This past week, on the tails of Nvidia's stock split, fellow artificial intelligence (AI) giant Broadcom (NASDAQ: AVGO) said that it, too, would launch a 10-for-1 split. Like Nvidia, Broadcom's shares have posted triple-digit gains over the past few years and soared past $1,000 in recent times. Broadcom is planning its operation for July 12. Now the question is whether the stock could follow in the footsteps of Nvidia and climb in the double digits ahead of the split. Let's find out.
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Broadcom Ltd. Stock
The stock is an absolute favorite of our community with 68 Buy predictions and no Sell predictions.
Based on the current price of 146.66 € the target price of 1384 € shows a potential of 843.68% for Broadcom Ltd. which would more than double the current price.
