Broadcom Stock Analysis: Never mind AI, AVGO Is the Best Dividend Growth Stock

Category: Finance

Broadcom is experiencing significant growth in AI chip sales, projecting $11 billion in revenue this year, which constitutes 25% of total sales. Despite a decline in non-AI chip sales, the company's stock has risen 36% in 2024. Broadcom's dividend yield is currently 1.4%, with a history of substantial growth in payouts, making it an attractive option for dividend growth investors. The company maintains strong relationships with major clients like Apple and is well-positioned in the mobile chipset market, despite recent stock sell-offs.

Keywords: Broadcom, AI chips, dividend growth

Source: InvestorPlace

Update At: 8/6/2024

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