Broadcom (NASDAQ:AVGO) is gearing up for a 10 for 1 stock split scheduled for July 12, 2024, following the success of its stock as it surpassed $1,700 this month due to the AI boom. This move comes after another AI leader, Nvidia (NASDAQ:NVDA), recently split its shares. The summer of 2024 has presented interesting opportunities for investors, with AVGO stock rising 94% for the year, from under $900 to $1,733. With the split coming up after markets close on June 12, investors can expect their positions to increase.
Broadcom’s strong performance has caught the attention of analysts, with 22 out of 23 rating it as a buy and maintaining optimistic price targets. Comparisons are being drawn to Nvidia following its own successful stock split. Despite the high trading levels, AVGO stock is expected to continue advancing following the split.
Investors are advised to consider waiting until the split has reduced the stock price to take advantage of the future potential growth of AVGO. Analysts are optimistic about the company’s prospects as it prepares for the stock split, and the future looks bright for Broadcom. Samuel O’Brient, a reporter for InvestorPlace, holds a long position in NVDA stock and provides insights on financial markets, global economic trends, and public policy.
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https://investorplace.com/2024/07/should-you-buy-broadcom-avgo-stock-ahead-of-july-12/
