Top Stocks to Double Up on Right Now
Just because a stock is on a strong rise doesn’t mean you can’t add more shares. Let’s look at two growth stocks You might consider doubling down today.
broadcom (NASDAQ:AVGO) The shares doubled in value in both 2023 and 2024 and then rose almost 50% last year. The stock has recently pulled back some of its highs and has a huge growth opportunity ahead. This makes him the best option to double in 2026.
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Broadcom is one of the biggest beneficiaries of the current shift. artificial intelligence (AI) companies to begin moving further towards dedicated AI chips. While graphics processing units (GPUs) dominate today, more and more companies are looking at ways to design their own custom chips to help reduce costs. Meanwhile, these companies are increasingly turning to Broadcom, a leader in ASIC (application-specific integrated circuit) technology, to implement their designs and turn them into reality.
Broadcom helped Alphabet With its highly successful tensor processing units (TPUs) becoming a growth driver for Broadcom as Alphabet allowed its own cloud computing customers to distribute these chips. Meanwhile, other companies, including OpenAI, have also turned to Broadcom for help making their own custom chips. This is a stock that will double as Broadcom’s AI revenue is poised to explode in the coming years.
Another tech stock you might consider doubling down on right now is Micron Technology (NASDAQ:MU). One of the biggest bottlenecks in AI infrastructure right now is memory, and Micron is a leader in this area. Approximately 80% of its revenue comes from DRAM (dynamic random access memory) and 20% from NAND (flash memory).
For GPUs and other AI chips to perform at their best, they need a special form of DRAM called high-bandwidth memory (HBM) that can store, retrieve and transmit data quickly. However, HBM fabrication is a much more complex process and requires three to four times the wafer capacity of ordinary DRAM. This situation causes a supply shortage and memory prices to skyrocket. Additionally, at a time when data centers need large enterprise, high-performance solid state drives (SSDs), resources have been diverted away from NAND.
The result is that demand for Micron’s memory components has increased and prices have skyrocketed; This results in a large gross margin increase and increased profits. The company predicts that HBM demand will grow by 40% annually through 2028 and is investing aggressively to build new facilities to help increase capacity to better meet demand. This super cycle environment is why you want to double your stock.
