Worried about Nvidia’s stock? This analyst has a $2 trillion reason to remain calm.
1. AVGO expects $10 billion revenue from new AI custom chip customer. 2. Broadcom's AI chip revenue may grow by 100% in two years. 3. Melius analysts predict Broadcom can capture 20% of AI market by 2030. 4. OpenAI, a potential AVGO customer, plans to spend $115 billion by 2029. 5. Increased competition leads to reduced Nvidia price target, indicating market shifts.