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Broadcom Inc. (NASDAQ:AVGO) is one of the Good Stocks to Invest in Now. On July 30, Joseph Moore from Morgan Stanley raised the firm’s price target on Broadcom Inc. (NASDAQ:AVGO) from $270 to $338, while keeping an overweight rating on the stock.
The bullish sentiment is based on the company’s position in the AI semiconductor market. The firm believes that the increased enthusiasm for AI semiconductors is justified by the long-term strength of Broadcom Inc.’s (NASDAQ:AVGO) business. Morgan Stanley sees the company as one of the most uncontroversial names in the AI market. The firm has also raised price targets for AI-linked semiconductor companies in its coverage.
Broadcom Inc. (NASDAQ:AVGO) is an international technology company that designs and supplies a wide range of semiconductor chips.
While we acknowledge the potential of AVGO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
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Breakout Watch: Nvidia, Broadcom In Focus, But Don't Forget This Semiconductor Stock
AVGO
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