This AI Stock Just Hit a New High, and It's Still a Buy

Broadcom (NASDAQ: AVGO) has been one of the biggest winners of the artificial intelligence (AI) boom, with its stock already up nearly 50% this year and hitting new all-time highs. A move like that often raises the question of whether it's too late to buy the stock.In Broadcom's case, the answer is no. The company has a much larger AI opportunity in front of it, and the market is only starting to recognize how big that could be.Broadcom's edge comes from its custom AI chip business, where it works with hyperscalers (owners of massive data centers) to design chips built for specific workloads. This is very different from Nvidia's off-the-shelf graphics processing unit (GPU) business, although in many cases, these custom chips are taking the job of a GPU.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool