Jeffries said Broadcom and Marvell Technologies could benefit more than Nvidia in the new year. “While we continue to like NVDA on the precipice of the Blackwell market, we see further upside potential for AVGO and MRVL as they ride the wave of rising demand for custom silicon,” said analyst Blaine Curtis. “There is,” he said. Curtis expects there will still be opportunities for artificial intelligence even as the trade enters the “second half.” He sees areas other than AI as “still in their infancy.” The company sees Broadcom’s biggest turnaround yet. Curtis identified the company as a top choice due to its strong and growing customer base. He also expects AI stocks to continue to outperform analog and semiconductor capital equipment (semi-cap) stocks. “Recent comments suggesting limited auto or industrial recovery will continue to challenge analog setups, pushing recovery prices into mid-year,” he said. “Semi-cap stocks require a reset of expectations, but stocks have fallen back in the second half of 2024…and investors are likely more familiar with these stocks before they are similar.” The company also said Broadcom Elsewhere, Nvidia cited Marvell Technology as a stock that could see an even bigger rise thanks to the rollout of Amazon’s Trainium 2 chip. MRVL YTD Mountain Stock Price So Far This Year Despite Nvidia having another strong calendar year, Jeffries remains bullish on the AI chip darling, which has historically slowed new product releases. It said it was “the right time” to hold the stock. The company’s Blackwell chips are expected to be released this year. “Concerns about the rumored Blackwell delay/April air pocket are overdone and we still see NVDA accounting for a large portion of the exploding AI spending,” he wrote.
Jefferies sees these two AI chip stocks with more upside than Nvidia
By NvidiaDaily
