Avgo stock price has been supported by a consistent

AVGO stock price has been supported by a consistent share repurchase program, reducing dilution and increasing EPS. This is a noted positive for valuation models in the tech-heavy portfolio. Near the end of May, Jim Cramer said in a program on CNBC that the market was not paying attention to the potential of Broadcom. He said at the time that his trust had a “big position” in the company. Broadcom is a competitor to Nvidia (NASDAQ: NVDA) in some aspects. While being an Nvidia competitor has worked out for almost nobody over the past few decades, Broadcom is approaching it differently. Broadcom isn't trying to duplicate Nvidia's market-leading graphics processing units (GPUs). Instead, it's partnering with AI hyperscalers to design custom AI accelerator chips. AVGO stock price could see renewed buying if upcoming AI hardware contracts are confirmed. Semiconductor supply chains have stabilized, helping margin expansion outlooks into next year.