Prediction: Broadcom Stock Will Trade at This Price in 2030

Investing in artificial intelligence (AI) stocks has been a profitable move in recent years, which isn't surprising, as companies are spending massive amounts of money on this technology to unlock the productivity gains that it is expected to deliver.Market research firm IDC anticipates that AI will contribute a whopping $22.3 trillion to the global economy by 2030, generating $4.90 in value for every $1 spent on AI services and solutions. Forecasts like that explain why huge investments in AI infrastructure are expected to continue through the end of the decade, at least. Nvidia, for instance, estimates AI data center capital expenditures will be in the $3 trillion to $4 trillion range in 2030.According to a study from McKinsey, about 60% of AI infrastructure spending is allocated to chips and other computing hardware, so there's a good chance that chipmaker Broadcom (NASDAQ: AVGO) will experience remarkable growth -- and help its shareholders grow their fortunes -- over the next five years.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool