The Latest Breaking News from AVGO

Broadcom Inc (NASDAQ:AVGO) shares are climbing Tuesday afternoon, hitting a new 52-week high, as part of a broad rally across the artificial intelligence chip sector. Here’s what investors need to know.

Artificial intelligence (AI) chip stocks, including industry giants like Nvidia (NASDAQ:NVDA), Advanced Micro Devices (NASDAQ:AMD), and Taiwan Semiconductor Manufacturing Co. (NYSE:TSM), alongside key players such as Broadcom (NASDAQ:AVGO), Arm Holdings (NASDAQ:ARM), Marvell Technology (NASDAQ:MRVL), and Micron Technology (NASDAQ:MU), saw a significant surge in their stock prices on Tuesday.

A new price target places Broadcom's upside at nearly 20%. Networking could help facilitate a rally — raising AVGO's chance of luring new custom-AI chip buyers.

The S&P 500 made a new all-time high this week as risk-on sentiment returned; as uncertainty continues to clear, stocks could make new highs in the second half.

HSBC has slapped a Street-high $400 price target on Broadcom stock.

With the AI infrastructure buildout in full swing, here are 3 semiconductor stocks well-positioned to grow significantly as revenue and earnings increase

HSBC raised its price target on Broadcom stock to $400. But AVGO shares, at current levels, are not particularly inexpensive to own.

The demand for Broadcom’s AI chips continues to surge, providing a strong tailwind for its semiconductor division.

Broadcom is both a growth and income stock, making it an excellent addition to a balanced portfolio.