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Investing $1,000 in the right stocks can lead to significant returns in the long run. Stocks like Amazon, Home Depot, Microsoft, and Berkshire Hathaway have delivered such returns.
For some, $1,000 might not seem like enough money to invest to get a great return in the stock market. But if you have a long enough investment time horizon and pick the right investment, $1,000 could eventually grow into $1 million.
Broadcom is a strong investment option for the AI boom. While it may not be as well-known as Nvidia or AMD in the AI race, it specializes in networking and connectivity solutions that are expected to play a role in the AI boom. The company's revenue growth in generative AI shows promising potential, and it is highly profitable with a strong CEO.
Chip stock Broadcom hasn't gotten nearly as much attention as peers Nvidia or even Advanced Micro Devices in the AI race, and it's easy to see why. The company's recent results have been modest, and it doesn't specialize in the kind of GPU and related processors that have made Nvidia so in demand.