(AVGO | 24 April 2024) AI Stock Analysis & News

HSBC bullish on AMD, Broadcom faces profitability challenges. Analysts maintain “buy” ratings and raise price targets on AVGO stock.

🔴(-3.6%) short-term forecast
🟢(+1.4%) long-term forecast

Stock AI’s (AVGO) Forecast get (+27.9% Profit)

StockAI’s analysis delivers real-world results. On 17 January 2024, $AVGO ($1096.02), StockAI predicted a long-term 🟢 buy signal. It was accurate: 1 month later price increased to $1402.3 (🟢27.9%). Buying AVGO on this signal yielded a +27.9% profit 💰💰.

AVGO-Broadcom Inc. News

🟢 HSBC turns bullish on AMD shares, saying there won’t just be one winner in the market for AI GPUs. (+)
🔴 Several brokerages have updated their recommendations and price targets on shares of Broadcom. (-)
🟢 Redhawk Wealth Advisors Inc. lowered its stake in Broadcom Inc. (-)
🔴 Broadcom Inc. insider Charlie B. Kawwas sold 5,000 shares of the business’s stock. (-)
🟢 Broadcom Inc. Director Kenneth Hao sold 9,160 shares of the business’s stock. (+)
🔴 Broadcom Inc. shares fell 1.5% during mid-day trading on Friday. (-)

Broadcom Inc. (AVGO) has been making headlines recently, with mixed impacts on its stock price. Positive news such as HSBC’s bullish outlook on AMD shares and Director Kenneth Hao’s sale of 9,160 shares have had a slightly positive effect on the stock. However, negative news like insider selling and a decline in share price have dampened investor sentiment.

While the overall long-term forecast for AVGO remains positive, the short-term forecast shows a slight decrease in stock price. It will be interesting to see how the market reacts to these recent developments and whether Broadcom can continue to drive profitability and remain relevant in the semiconductor industry. Investors should stay tuned for further updates on AVGO’s stock performance.

AVGO-Broadcom Inc. Analyst Ratings

📈 Deutsche Bank Aktiengesellschaft reiterated their buy rating on Broadcom Inc. (NASDAQ:AVGO) stock with a price target of $1,500.00.

📈 Barclays raised their price target on Broadcom Inc. (NASDAQ:AVGO) stock from $1,405.00 to $1,500.00 and maintained an overweight rating.

📉 Vontobel Holding Ltd. increased their position in Broadcom Inc. (NASDAQ:AVGO) stock by 1.5% during the fourth quarter.

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Investors may consider the AI predictions and news summaries as one factor in their investment decisions alongside their own research and risk tolerance.

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