{"id":55654,"date":"2023-09-01T06:57:45","date_gmt":"2023-09-01T10:57:45","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/broadcom-stock-drops-the-nvidia-bar-is-high-why-its-still-a-solid-ai-play\/"},"modified":"2023-09-01T06:57:47","modified_gmt":"2023-09-01T10:57:47","slug":"broadcom-stock-drops-the-nvidia-bar-is-high-why-its-still-a-solid-ai-play","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=55654","title":{"rendered":"Broadcom Stock Drops. The Nvidia Bar Is High. Why It’s Still a Solid AI play."},"content":{"rendered":"
\n
<\/p>\n

<\/p>\n

<\/p>\n<\/figure><\/div>\n

\n Broadcom
\n has been anointed as the next big semiconductor play on the growth of artificial intelligence after
\n Nvidia.<\/span>
\n That\u2019s setting a high bar for the stock but Wall Street analysts are confident in its AI prospects.\u00a0<\/p>\n

\n Broadcom
\n (ticker: AVGO) shares were down 4.5% at $881.67 in premarket trading on Friday, with investors seemingly reacting with disappointment that its latest earnings were only mildly better than consensus and its guidance was in line with existing projections. <\/p>\n

\n

Broadcom might be suffering under comparisons with Nvidia\u2019s (NVDA) blowout earnings raising expectations.\u00a0However, Broadcom\u2019s AI-related revenue is expected to rise to more than $7 billion next fiscal year from around $3.8 billion this year. That pace of growth is enough for analysts to get behind the stock.\u00a0<\/p>\n

\u201cOverall we continue to believe Broadcom is successfully engineering a soft landing, with its cyclical resilience, secular growth opportunities in AI, and potential accretion from
\n VMware
\n combining to yield attractive upside,\u201d
\n Deutsche Bank\u2019s<\/span>
\n Ross Seymore wrote in a research note.\u00a0<\/p>\n

Seymour raised his target price on Broadcom to $950 from $905 and maintained a Buy rating.\u00a0<\/p>\n

Broadcom has attracted plenty of positive opinions as its AI revenue projections are set to make it the second largest U.S. chip company in the sector, trailing only Nvidia.\u00a0Analysts were generally reiterating their backing after its latest earnings. <\/p>\n

KeyBanc\u2019s John Vinh raised his price target on the stock to $1,000 from $940. The new target is based on a price-to-earnings multiple of 19 times projected fiscal 2024 earnings, partly based on the expected closing of its VMware acquisition.\u00a0<\/p>\n

Rick Schafer at
\n Oppenheimer
\n raised his price target to $990 from $900, based on a P\/E multiple of 22 times the research firm\u2019s expected earnings for Broadcom in its next fiscal year.\u00a0<\/p>\n

\u201cWe like Broadcom\u2019s sustained growth led by franchises DC\/cloud, networking, wireless and software. Reiterate Outperform,\u201d Schafer wrote.\u00a0<\/p>\n

Write to Adam Clark at adam.clark@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Broadcom has been anointed as the next big semiconductor play on the growth of artificial intelligence after Nvidia. That\u2019s setting a high bar for the stock but Wall Street analysts are confident in its AI prospects.\u00a0 Broadcom (ticker: AVGO) shares were down 4.5% at $881.67 in premarket trading on Friday, with investors seemingly reacting with […]<\/p>\n","protected":false},"author":1,"featured_media":55655,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-55654","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nBroadcom Stock Drops. The Nvidia Bar Is High. Why It's Still a Solid AI play. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Broadcom has been anointed as the next big semiconductor play on the growth of artificial intelligence after Nvidia. That\u2019s setting a high bar for the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=55654\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Broadcom Stock Drops. The Nvidia Bar Is High. Why It's Still a Solid AI play. | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Broadcom has been anointed as the next big semiconductor play on the growth of artificial intelligence after Nvidia. That\u2019s setting a high bar for the\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=55654\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-01T10:57:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-01T10:57:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/09\/1693565866_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=55654#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=55654\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Broadcom Stock Drops. The Nvidia Bar Is High. Why It’s Still a Solid AI play.\",\"datePublished\":\"2023-09-01T10:57:45+00:00\",\"dateModified\":\"2023-09-01T10:57:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=55654\"},\"wordCount\":334,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Markets\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=55654#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=55654\",\"url\":\"https:\/\/ifintechworld.com\/?p=55654\",\"name\":\"Broadcom Stock Drops. The Nvidia Bar Is High. Why It's Still a Solid AI play. | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-09-01T10:57:45+00:00\",\"dateModified\":\"2023-09-01T10:57:47+00:00\",\"description\":\"Broadcom has been anointed as the next big semiconductor play on the growth of artificial intelligence after Nvidia. That\u2019s setting a high bar for the\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=55654#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=55654\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=55654#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Broadcom Stock Drops. The Nvidia Bar Is High. Why It’s Still a Solid AI play.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Broadcom Stock Drops. The Nvidia Bar Is High. Why It's Still a Solid AI play. | iFintechWorld","description":"Broadcom has been anointed as the next big semiconductor play on the growth of artificial intelligence after Nvidia. That\u2019s setting a high bar for the","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=55654","og_locale":"en_US","og_type":"article","og_title":"Broadcom Stock Drops. The Nvidia Bar Is High. Why It's Still a Solid AI play. | iFintechWorld","og_description":"Broadcom has been anointed as the next big semiconductor play on the growth of artificial intelligence after Nvidia. That\u2019s setting a high bar for the","og_url":"https:\/\/ifintechworld.com\/?p=55654","og_site_name":"iFintechWorld","article_published_time":"2023-09-01T10:57:45+00:00","article_modified_time":"2023-09-01T10:57:47+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/09\/1693565866_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=55654#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=55654"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Broadcom Stock Drops. The Nvidia Bar Is High. Why It’s Still a Solid AI play.","datePublished":"2023-09-01T10:57:45+00:00","dateModified":"2023-09-01T10:57:47+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=55654"},"wordCount":334,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Markets"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=55654#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=55654","url":"https:\/\/ifintechworld.com\/?p=55654","name":"Broadcom Stock Drops. The Nvidia Bar Is High. Why It's Still a Solid AI play. | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-09-01T10:57:45+00:00","dateModified":"2023-09-01T10:57:47+00:00","description":"Broadcom has been anointed as the next big semiconductor play on the growth of artificial intelligence after Nvidia. That\u2019s setting a high bar for the","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=55654#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=55654"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=55654#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Broadcom Stock Drops. The Nvidia Bar Is High. Why It’s Still a Solid AI play."}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/55654","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=55654"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/55654\/revisions"}],"predecessor-version":[{"id":55656,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/55654\/revisions\/55656"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/55655"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=55654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=55654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=55654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}