Broadcom Issues $4.5B in Notes as AI Concerns Linger

Broadcom Inc. (NASDAQ:AVGO) is among the most profitable US stocks to buy. On January 12, Broadcom Inc. (NASDAQ:AVGO) announced the issuance of $4.5 billion in senior notes, according to the latest U.S. Securities and Exchange Commission filing. The company plans to utilize the net proceeds to fund general corporate operations and to repay existing loans.

Earlier on January 9, Stacy Rasgon, an analyst at Bernstein, reaffirmed an ‘Outperform’ rating on Broadcom Inc. (NASDAQ:AVGO) with a price target of $475. This reaffirmation follows a meeting with the company’s leadership, which sought to reassure investors about intensifying competition in the artificial intelligence market. According to the analyst report, investors have raised concerns in recent months about emerging challenges to the company’s AI-dominant position, including rising competition and customer-owned tooling (COT).