Benefiting handsomely from the ongoing artificial intelligence (AI) rally, Broadcom (NASDAQ: AVGO) stock recently underwent a 10-for-1 stock split, which made a purely aesthetic correction to its price. However, this may have prompted questions about its performance by December 31.
2024 has brought sizable gains to AVGO stock, as it added 50.28% to its price since January 1, with 7.66% progress in the past five days, countered by a loss of 1.57% in the latest trading session on August 19, setting the price at $163.11 at the time of writing.
The drop from the June 17 high of $182.89 and recent volatility has prompted questions about the AVGO stock’s future performance, motivating Finbold to use AI to determine a possible price range for the end of 2024.
AI sets AVGO stock price for the end of 2024
Perhaps the most popular chatbot platform, ChatGPT-4o from OpenAI, focused on the strong performance of AVGO stock this year so far and the predicted completion of the VMware acquisition by the year’s end as strong factors that will positively impact its stock price, setting it somewhere between $175 and $185.
ChatGPT’s rival, Gemini from Alphabet (NASDAQ: GOOGL), has offered a slightly more bullish scenario for the most likely price range on December 31, highlighting the company’s focus on AI as the main driver in stock price.
Microsoft’s (NASDAQ: MSFT) Copilot is perhaps the most bearish of all chatbots, as it sees AVGO stock trading in the $170-$180 range, based on the occasional volatility that stock has experienced throughout history.
It seems that chatbots have estimated that AVGO stock will trade at least 10% higher than it is currently on August 19, expressing optimism about its performance over the remaining four months.
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Source: https://finbold.com/ai-predicts-broadcom-stock-price-for-end-of-2024/