HSBC turns bullish on AMD shares, saying there won’t just be one winner in the market for AI GPUs, potentially impacting Broadcom Inc. stock price.
Stock AI’s forecasts:
🔴 -6.6% short-term ⬇️
🔴 -4.9% long-term ⬇️
Stock AI’s (AVGO) Forecast get (+27.9% Profit)
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AVGO-Broadcom Inc. News
🟢 HSBC turns bullish on AMD shares, saying there won’t just be one winner in the market for AI GPUs.
🔴 Broadcom Inc. shares fell 1.5% during mid-day trading on Friday.
🔴 Broadcom Inc. insider Charlie B. Kawwas sold 5,000 shares of the business’s stock.
🔴 Several brokerages have updated their recommendations and price targets on shares of Broadcom.
🟢 Broadcom Inc. Director Justine Page sold 110 shares of the stock.
🟢 Broadcom Inc. CFO Kirsten M. Spears sold 3,000 shares of the firm’s stock.
Broadcom Inc. stock has been experiencing fluctuations due to insider selling activities and updated recommendations from brokerages. While HSBC’s bullish stance on AMD shares may have a positive impact on the market for AI GPUs, Broadcom’s challenges in driving profitability and remaining relevant have led to a decline in stock price. Insider selling activities by top executives have also contributed to the fluctuations in stock price. Investors are closely monitoring these developments to assess the overall impact on Broadcom Inc. stock.
AVGO-Broadcom Inc. Analyst Ratings
📈 JPMorgan Chase & Co. reaffirmed their “overweight” rating on Broadcom Inc. (NASDAQ: AVGO) stock on March 21, 2024.
📈 Deutsche Bank Aktiengesellschaft reiterated their “buy” rating on Broadcom Inc. (NASDAQ: AVGO) stock on April 8, 2024.
📉 Evercore ISI initiated coverage on Broadcom Inc. (NASDAQ: AVGO) with an “outperform” rating on April 17, 2024.
Sources:
1. ETF Daily News – JPMorgan Chase & Co. reaffirms overweight rating on Broadcom
2. ETF Daily News – Deutsche Bank Aktiengesellschaft reiterates buy rating on Broadcom
3. ETF Daily News – Evercore ISI initiates coverage on Broadcom
Disclaimer
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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