Will Broadcom Stock Hit $1,200 Per Share Next Year?

Semiconductors have a key role in powering the infrastructure of artificial intelligence (AI) computing, so perhaps it's no surprise that makers and designers of specialized AI chips have been among the stock market's standout performers this year amid widespread AI adoption. In fact, the VanEck Semiconductor ETF (SMH) is up 72.7% on a YTD basis - outperforming not only the S&P 500 Index ($SPX), but even the robust 44% return of the Nasdaq Composite ($NASX).