Jim Cramer Says "Broadcom's a Buy"

Broadcom Inc. (NASDAQ:AVGO) is one of the stocks Jim Cramer offered insights on.

Noting that they have held the stock for years, a caller asked if they should continue holding it or sell it. In response, Cramer said:

“Hold or sale? Broadcom’s a buy. I mean, we’re talking about, we’re talking about Hock Tan. He is major great, he’s one of the greatest CEOs ever, and I think that the company is doing fabulously. And if anything, it’s a big position for my Charitable Trust.”

Broadcom Inc. (NASDAQ:AVGO) supplies semiconductor devices and infrastructure software, including networking, connectivity, and storage solutions. The company’s products are used for applications in data centers, telecommunications, broadband, smartphones, industrial systems, and AI networking. During the October 13 episode, Cramer discussed its deals with OpenAI, as he remarked:

“We got this gigantic deal between semiconductor kingpin Broadcom and OpenAI. To put it in plain English, OpenAI is going to design chips made by Broadcom for the equivalent of 18 Hoover Dams’ worth of electricity. That’s how they measure these things these days. Okay, stupendous… Broadcom is a $1.7 trillion semiconductor and networking company with a software kicker that, I don’t know, no one ever talks about. It rarely gets the attention it deserves… The stock shot up nearly 10% in response. This is just the latest in a string of big data center deals that make me real glad we own Broadcom for the Charitable Trust.”

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