Why This AI Stock's Recent Pullback Could Be a Gift for Long-Term Investors

Broadcom (NASDAQ: AVGO) shares have pulled back about 20% from the highs they hit in December, which could be a huge gift to investors. The company has one of the biggest growth opportunities in the artificial intelligence (AI) infrastructure space, and it is just getting started.Famed portfolio manager Cathie Wood recently predicted that AI infrastructure spending would rise from around $500 billion to $1.4 trillion in 2030. While that would be good news in and of itself for Broadcom, what stood out even more was her prediction of how that spending would get spread out. The growth of spending on networking components was predicted to outpace the growth of compute, while AI ASICs (application-specific integrated circuits) were forecast to take some meaningful market share away from graphics processing units (GPUs). If Wood's prediction were to come to fruition, it would be a huge growth driver for Broadcom. The company is a leader in both networking components and ASIC technology.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool