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Broadcom and Credo Technology are gaining attention, with Mizuho raising price targets due to the strength of AI.
Broadcom (NASDAQ: AVGO) and Credo Technology (NASDAQ: CRDO) garnered attention on Monday as Mizuho Securities raised the pair's price targets citing the sustained strength in artificial intelligence.
Broadcom's stock price rose by 0.5% in pre-market trading, while Credo increased by 1.8%.
Broadcom's custom silicon business could have the potential to see opportunities of over $16 billion by acquiring OpenAI's chip business in the second half of 2025 or 2026, according to Mizuho analyst Vijay Rakesh, who noted that the custom silicon market is heading towards a total value of $56 billion.
Furthermore, the acceleration of China creating its own large-scale language model and custom ai chips with export restrictions, as well as potential victories from Amazon (AMZN) Web Services and Google (GOOG) (GOOGL), may be positive signs for Broadcom in each of their custom silicon creations, as added by Rakesh.
Broadcom, along with Nvidia (NVDA), is still considered a leader in the GPU and custom silicon space, while Arm (ARM) and Micron (MU) are positioned in the silicon intellectual property and high-bandwidth memory markets respectively, as mentioned by Rakesh.
He has raised Hock Tan-led Broadcom's target price from $190 to $220. Credo's target price has been increased from $35 to $41 as tailwinds in custom silicon and networking are expected to continue into next year.
Broadcom's stock price rose by 0.5% in pre-market trading, while Credo increased by 1.8%.
Broadcom's custom silicon business could have the potential to see opportunities of over $16 billion by acquiring OpenAI's chip business in the second half of 2025 or 2026, according to Mizuho analyst Vijay Rakesh, who noted that the custom silicon market is heading towards a total value of $56 billion.
Furthermore, the acceleration of China creating its own large-scale language model and custom ai chips with export restrictions, as well as potential victories from Amazon (AMZN) Web Services and Google (GOOG) (GOOGL), may be positive signs for Broadcom in each of their custom silicon creations, as added by Rakesh.
Broadcom, along with Nvidia (NVDA), is still considered a leader in the GPU and custom silicon space, while Arm (ARM) and Micron (MU) are positioned in the silicon intellectual property and high-bandwidth memory markets respectively, as mentioned by Rakesh.
He has raised Hock Tan-led Broadcom's target price from $190 to $220. Credo's target price has been increased from $35 to $41 as tailwinds in custom silicon and networking are expected to continue into next year.
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