Where Will Broadcom Stock Be in 5 Years?

Broadcom (NASDAQ: AVGO) stock has delivered impressive returns to investors in the past five years. An investment of $1,000 made in mid-March 2020 would have grown into a holding worth more than $8,300 thanks to robust demand for the company's chips, which are deployed in a host of applications ranging from smartphones to data centers to cloud computing to broadband to storage, among others.The chip designer's returns in the last five years have easily outpaced the 112% gains clocked by the Nasdaq-100 Technology Sector index. The good part is that Broadcom seems well-placed to outperform over the next five years as well. That's because the company now has a new catalyst that has the potential to add several billion dollars to its top line.Broadcom designs application-specific integrated circuits (ASICs), which are custom chips used for performing specific tasks. That contrasts with central processing units (CPUs) and graphics processing units (GPUs), which are general-purpose in nature.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool