Why Broadcom Stock More Than Doubled in 2024

Most investors scouring the technology sector for its top growth prospects probably don't have Broadcom (NASDAQ: AVGO) on their radar. But perhaps they should. Shares of this unassuming telecom soared 108% last year, shocking plenty of people. That's not a bounceback move from a lousy 2023, either, as the stock nearly doubled then.What gives? Simply put, this company is plugged into the rapid rise of artificial intelligence.Nvidia (NASDAQ: NVDA) has been the poster child of the AI revolution so far, and rightfully so. Its processors are the heart of the vast majority of AI data centers. As time marches on, though, data center operators are looking for other ways of handling even more data, and handling it even faster.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool