JPMorgan Says the Dip in Broadcom Stock Is a Screaming Buy. Are You Loading Up on Shares Now?

Nvidia (NVDA) has been the defining company of the current AI megatrend, emerging as perhaps the best way to benefit from this revolutionary tech. However, it is not the sole semiconductor player in the fray, with Palo Alto, CA-based Broadcom (AVGO) making a strong case for itself.

And now, financial services major J.P. Morgan has hailed the company as a must-have in investors’ portfolios. Why? Analyst Harlan Sur has pointed towards the continued surge in capital expenditure by the hyperscalers in general and the consequent rise in demand for ASIC, or application-specific integrated circuit, chips in particular, to bode well for Broadcom.

About Broadcom

Despite the stock rising by eight times over the past year and a 44% jump on a year-to-date (YTD) basis, Broadcom, with a market cap of $1.6 trillion, is relatively lesser known than its “Mag 7” peers. The leader in the custom ASICs market, Broadcom, traces…