Shares of Broadcom (SYM: AVGO) just split 10:1, bringing its stock price down to $167.45.
While the split won’t impact the stock fundamentally, it is far more attractive to investors at this lower price. Even better, AVGO may not stay this cheap for long, especially with the artificial intelligence story still heating up.
As noted by Seeking Alpha, analysts at TD Cowen “added that there are ‘no signs’ of generative AI demand abating in the near term, pointing out that Broadcom recently raised its AI target for the full year.” The firm also has a $210 price target on the stock.
Analysts at Oppenheimer also have a $200 target on AVGO.
Analysts at Rosenblatt noted that, “Strength in AI-related infrastructure networking and the company’s application specific integrated circuit business, along with improved synergies in enterprise software are encouraging.”