Broadcom Inc. (NASDAQ:AVGO) is one of the Best Multibagger Stocks to Buy for Long Term. On April 7, Goldman Sachs reiterated a “Buy” rating on the company’s stock with a price objective of $480, noting that the company entered into a long-term agreement with Google. The focus is on developing and supplying its future generations of TPUs. Also, there is a Supply Assurance Agreement to supply networking as well as other components to be utilised in Google’s AI racks through 2031.
Notably, Broadcom Inc. (NASDAQ:AVGO), Google, and Anthropic expanded the current strategic collaboration, with Goldman Sachs expecting strategic merit across several fronts. The firm believes that Broadcom Inc. (NASDAQ:AVGO) possesses growing and increasingly diverse exposure towards critical customers that have leading AI models. This can place the company as the critical AI beneficiary.
Apart from this, the investor confidence is expected to further strengthen when it comes to the sustainability of the Broadcom-Google partnership with respect to the future TPUs, added Goldman Sachs. Also, the firm added that the supply assurance agreement further bolsters Broadcom Inc. (NASDAQ:AVGO)’s healthy market position in AI networking.
Broadcom Inc. (NASDAQ:AVGO) operates as a developer, designer, and supplier of semiconductor devices and infrastructure software solutions.
While we acknowledge the potential of AVGO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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