Prediction: November Will Be a Huge Month for Broadcom

Broadcom (NASDAQ: AVGO) hasn't been the best stock to own lately. In June, it hit an all-time high, but it has basically gone straight down from there. It's now down by about 38% from its all-time high, but all that could reverse in November. While Broadcom doesn't have any big events of its own coming this month, there are some others that could drive it higher, like the Anthropic IPO.

Broadcom is a major computing unit supplier to Anthropic, as Anthropic has chosen to deploy a large quantity of Tensor Processing Units (TPUs) that were developed by Broadcom and Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL). This could drive heightened awareness around Broadcom's stock, but the reality is that it's a viable investment in its own right and shouldn't need the hype of a new IPO to boost its stock.

Broadcom is a great buy in November, and it's easy to see why if you listen to management.

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