Broadcom (AVGO) to Join $1T Club as Stock Still Has 47% Upside

Although we are little than 2 months into the year, the banal marketplace has surely underperformed. There is nary shortage of companies struggling arsenic geopolitical tensions loom large. However, Broadcom (AVGO) is approaching a unsocial milestone arsenic it whitethorn beryllium acceptable to articulation the $1 trillion nine portion inactive boasting a 47% upside for its banal terms this year.

Currently, the institution has a marketplace worth of $952 cardinal and is sitting conscionable extracurricular the apical 10. Interestingly, the semiconductor banal is worthy much than large companies similar Eli Lilli (LLY), JPMorgan Chase (JPM), Visa (V), and adjacent Walmart (WMT). Yet, with stacked competition, could AVGO marque bully connected its imaginable this year?

Source: AFP 2023 / JEWEL SAMAD

Also Read: Broadcom (AVGO) Stock Bucks Trend, Jumps 6%: Here’s Why

Broadcom Looks Poised for $1 Trillion Club arsenic Stock Still Has Room to Increase

It has been a beauteous bully twelvemonth for Broadcom. The banal is up much than 55% successful that clip and has accrued much than 643% implicit the past 5 years amid the rising dominance of AI. Now, arsenic uncertainty has been ever-present connected Wall Street, the banal looks bound for a monolithic landmark achievement.

The company’s banal has fallen 1.9% Tuesday, with shares trading astatine $203. However, Broadcom (AVGO) whitethorn good beryllium connected its mode to joining the $1 trillion club, arsenic its banal inactive features 47% upside. If it did scope the mark, it would but conscionable the ninth institution to execute it, according to CompaniesMarketCap.

Source: CNBC

Also Read: Broadcom (AVGO) Eyes Intel Acquisition: Why Bernstein Says It Could beryllium Big

Additionally, Broadcom is enjoying a alternatively bullish position from Wall Street. Presently, it is expected to outperform the marketplace implicit the adjacent 12 months. The question is, conscionable however precocious is AVGO expected to summation successful a twelvemonth that has been defined by its volatility?

According to 44 analysts surveyed by CNN, 84% person a bargain standing connected teh stock. Alternatively, conscionable 16% person called to clasp with nary 1 issuing a merchantability rating. Moreover, it features a median terms people of $250, representing a 22% summation from its existent position.

The hazard is comparatively debased arsenic well, with Broadcom projected to scope $210 connected its low-end forecast, which would inactive beryllium up 3% from its presumption now. Additionally, its high-end extortion stands astatine $300, which would correspond a 47% upside from wherever it stands now.