Prediction: This Artificial Intelligence (AI) Stock Could Hit a $2 Trillion Valuation by 2028

Broadcom (NASDAQ: AVGO) has become a key player in the artificial intelligence (AI) chip market thanks to its application-specific integrated circuits (ASICs). ASICs are gaining tremendous traction among cloud service providers and hyperscalers because of their cost-effective nature and performance advantages over general-purpose computing chip systems such as graphics cards.This explains why Broadcom stock has shot up an impressive 65% in the past year, which is significantly higher than the 30% gain for AI chip pioneer Nvidia during this period. This impressive surge has brought Broadcom's market cap to roughly $1.3 trillion, and it wouldn't be surprising to see this semiconductor stock enter the $2 trillion market cap club in the next three years.Let's look at the reasons why Broadcom seems capable of hitting that milestone by 2028.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool