Blackstone Inc., a hedge fund managed by Stephen A. Schwarzman, recently increased its holdings in Broadcom Inc. (AVGO) by 6,182 shares. Despite recent volatility and a slight drop, Broadcom’s stock remains significantly higher over the past year, with strong analyst consensus due to its pivotal role in AI ASICs and networking, projecting substantial growth in AI-related revenue. TipRanks’ AI Analyst, Spark, rates AVGO as “Outperform,” citing strong financial performance and an upbeat earnings outlook driven by accelerating AI growth, though it notes concerns about stretched valuation and mixed technical signals.
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Blackstone Inc. Boosts Broadcom Inc. Stake by 6,182 Shares
Blackstone Inc., a hedge fund managed by Stephen A. Schwarzman, recently increased its holdings in Broadcom Inc. (AVGO) by 6,182 shares. Despite recent volatility and a slight drop, Broadcom’s stock remains significantly higher over the past year, with strong analyst consensus due to its pivotal role in AI ASICs and networking, projecting substantial growth in AI-related revenue. TipRanks’ AI Analyst, Spark, rates AVGO as “Outperform,” citing strong financial performance and an upbeat earnings outlook driven by accelerating AI growth, though it notes concerns about stretched valuation and mixed technical signals.