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Is Broadcom Stock Your Ticket to Becoming a Millionaire?
The artificial intelligence (AI) boom has supercharged Broadcom's (NASDAQ: AVGO) growth in recent quarters, with the company now getting a significant chunk of its revenue from selling custom processors and networking chips deployed by major cloud service providers in their data centers.The stock has made a big move in the past couple of months, jumping an impressive 41% as of this writing and going well past $1 trillion in market cap. The good part is that Broadcom is scratching the surface of a massive opportunity in the AI chip market that could help it sustain solid growth rates for a long time to come.Of course, buying just Broadcom and hoping that it will help you become a millionaire isn't a smart thing to do, as any cracks in the company's growth story could send the stock plunging. However, Broadcom looks like an ideal pick for investors aiming to construct a diversified million-dollar portfolio. Let's look at the reasons why.Continue reading
The artificial intelligence (AI) boom has supercharged Broadcom's (NASDAQ: AVGO) growth in recent quarters, with the company now getting a significant chunk of its revenue from selling custom processors and networking chips deployed by major cloud service providers in their data centers.
The stock has made a big move in the past couple of months, jumping an impressive 41% as of this writing and going well past $1 trillion in market cap. The good part is that Broadcom is scratching the surface of a massive opportunity in the AI chip market that could help it sustain solid growth rates for a long time to come.
Of course, buying just Broadcom and hoping that it will help you become a millionaire isn't a smart thing to do, as any cracks in the company's growth story could send the stock plunging. However, Broadcom looks like an ideal pick for investors aiming to construct a diversified million-dollar portfolio. Let's look at the reasons why.
