An article about trending AI stocks was published in November. Now, we will examine how Broadcom Inc. (NASDAQ: AVGO) compares to other trending AI stocks in November. Beginner investors continue to question whether they are too late to join the AI party in light of the skyrocketing prices of AI stocks. However, due to the nature of this technological revolution, investing experts think there are many opportunities in the AI field.
During the WSJ Tech Live Conference, venture investor Martin Casado, a general partner at Andreessen Horowitz, explained to the Wall Street Journal why, in his opinion, it is currently not “too late” in the context of AI.
“It truly seems the marginal cost of language, reasoning, and invention will be zero regarding AI. If that’s the case, this is a supercycle. And we have decades if that’s the case. Therefore, it’s never “too late.” We’re still very, very early in that regard.”
Broadcom Inc (NASDAQ: AVGO)
Blue Line Futures President Bill Baruch recently stated during a CNBC program:
“It’s starting to happen. The stock appears fantastic. Outside of Nvidia, it has been the most effective. They can diversify through the subscription industry and infrastructure development in that area. This name is going to keep getting better, in my opinion. We own it in both our concentrated portfolio and our general portfolio.”
UBS just released a list of stocks that it believes will lead the industry by 2030. According to UBS, businesses that apply technology to change industries will benefit over the next ten years.
“In a letter, UBS analyst Hartmut Issel stated, “We see these as leading disruptors in industries undergoing technological change, which should have a lasting impact.”
According to Issel, the company selected 29 businesses it believes will generate higher earnings growth than the overall market (S&P 500, NASDAQ), bolstered by “positive, long-term trends.”
Among these stocks in the Enabling Tech category was Broadcom Inc. (NASDAQ: AVGO).
UBS estimates that by 2025, enabling technology sales could reach $1.2 trillion, or a 15% compound annual growth rate from FY20 to FY25.
Broadcom Inc. (NASDAQ: AVGO) remains a market leader in networking chips and AI ASCI. In fiscal 2024, the corporation anticipates generating around $12 billion in AI sales, or 20% of its overall revenue.
In addition to several other tech companies seeking to spend heavily on AI hyperscaling, Broadcom Inc. (NASDAQ: AVGO) has agreements with Alphabet and Meta for its 3nm AI ASIC processor.
On our list of AI stocks to watch in November, AVGO comes in at number seven. Even though we recognize AVGO’s potential, we are convinced other underappreciated AI stocks have a better chance of producing more significant returns in less time.