Broadcom (NASDAQ: AVGO) shares have suffered a weak end to the summer. The stock has tumbled about 30% from its all-time high, set in early June, and is about flat since Jan. 1. However, I think this is a huge mistake on the part of investors. The semiconductor giant has major momentum, and it's easy to see why. More and more companies are opting for Broadcom's custom AI chips, rather than broad-purpose graphics processing units (GPUs). This will cause Broadcom's business to boom and make for a bright future. With the stock selling off in recent months, now looks to be an ideal time to add to existing positions or open a new one.
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