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Broadcom Inc. has benefitted from the AI narrative, rallying over 90% in the last year.
While AI revenues are growing fast, organic growth is only 12%, and this does not justify the current valuation.
Broadcom Inc. is expensive even for an AI company when we loot at metrics like PEG.
Thesis Summary
Broadcom Inc. ( AVGO ) has seen a 90% rally in its stock price in the last year. The company has benefited from increased demand for data servers and posted strong results in the last quarter ....