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Barchart
Barchart
Larry Ramer

Broadcom Breakup: AVGO Stock Slumps as Google Considers Its Rival for a Deal. Should You Buy the Dip?

AVGO Broadcom Google Meta

After a tech-news outlet The Information reported on April 20 that Alphabet’s Google (GOOG) (GOOGL) was holding talks with Marvell (MRVL) about the latter firm creating new AI chips for GOOG, Broadcom (AVGO) stock fell 1.7% on the same day. AVGO currently designs AI chips for Google.

But Broadcom has multiple, other huge customers in the space, and the size of the AI-chip market is expected to soar in the coming quarters. Further, the valuation of AVGO stock is attractive, in light of its growth outlook, while an analyst with an excellent track record recently issued a very bullish note on AVGO stock.

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