Key facts: Broadcom's Profit Growth Forecast at 25%; ARK Invest Increases Stake; Stock Declines 3.1%
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Broadcom is among the top tech stocks, expected to see 25% profit growth annually over the next two years, according to Citi equity strategist Scott Chronert.1ARK Invest, led by Cathie Wood, has increased its stake in Broadcom (AVGO) as part of a portfolio adjustment focusing on AI chipmakers and autonomous technology companies.2Broadcom's stock experienced a decline of 3.1% in response to a broader downturn in technology stocks, as investors moved towards safer assets such as gold.3
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