Analyst Says Broadcom (AVGO) Among the Best AI Semiconductor Stocks to Benefit from Bull Run Until 2030

We recently published Top 9 AI and Non-Tech Stocks to Watch Amid Latest Earnings Season. Broadcom Inc (NASDAQ:AVGO) is one of the top AI and non-tech stocks.

Vivek Arya, semiconductor analyst at Bank of America, said in a recent interview with CNBC that the current bull market for AI semiconductor companies could go for a couple of more years or “perhaps even” until 2030.

“The reason is that most infrastructure cycles tend to last for a decade or more. We have seen this with 3G and 4G, and we have the 5G cycle that started. So these cycles can last for a decade or more. And if you look at when ChatGPT started, that was in late 22, so we are just basically in the first three years of what could be a decade-long cycle. Now it’s important to understand why this is happening, and I think why this is happening is that there is this virtuous kind of flywheel that we have where there’s infrastructure spending that is leading to the creation of intelligence, which is being monetized, which is then being fed right back into the deployment of more infrastructure, and I think semiconductors are absolutely in the middle of a lot of those very important building blocks.”

The analyst believes Broadcom Inc (NASDAQ:AVGO) is one of the top AI semiconductor companies positioned well to benefit from this bull cycle.

Polen Focus Growth Strategy stated the following regarding Broadcom Inc. (NASDAQ:AVGO) in its third quarter 2025 investor letter:

“In early August we initiated positions in both NVIDIA and Broadcom Inc. (NASDAQ:AVGO), after having not owned either company over the past 2½ years following the initial wave of enthusiasm around Gen AI. While we have long admired both companies, their highly cyclical business models have made it extremely difficult to forecast future earnings growth with any degree of conviction. Given our approach of seeking durable and persistent earnings growth that compounds over long holding periods, our concern in holding either was that we would be forced to endure a punishing downcycle within our typical holding period – there is very little room that in a concentrated portfolio of 20-30 companies. In fact, pre ChatGPT, NVIDIA had two punishing down cycles over the preceding five years.

That is specifically what has occurred for NVIDIA and Broadcom. While the sheer magnitude of demand for AI chips, servers and networking equipment was something that we clearly underappreciated, new incremental data points over the past few months lead us to conclude the current boom in AI chips and related hardware will likely continue for the foreseeable future giving us greater conviction over the trajectory of future earnings for both NVIDIA and Broadcom.

Broadcom is the other major player in the AI chip market, the number one provider of custom chips, and currently receives the majority of the remaining 10c of every dollar being spent by enterprises. As Gen AI use cases mature, and as inference workloads become a bigger piece of the compute pie, we expect that custom chips (and Broadcom’s in particular) will account for a larger share of the total market. …” (Click here to read the full text)

While we acknowledge the potential of AVGO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.