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Nvidia Corp (NASDAQ:NVDA) is gaining favor over Broadcom Inc (NASDAQ:AVGO) as investors shift chip exposure, betting on Nvidia's broader graphics processing unit growth versus Broadcom's hyperscaler-heavy focus.
As Broadcom cools after massive gains, Nvidia is emerging as the preferred chip pick for its wider customer base and stronger long-term growth potential.
Nvidia became the first company to top the $4.5 trillion market cap in October.
Karen Firestone, executive chairman at Aureus Asset Management, joined CNBC’s ‘Halftime Report’ to detail her latest portfolio moves.
Firestone explained her firm’s recent trades, which she described as active portfolio management. She is buying Nvidia shares for her ARIES portfolio while trimming her firm’s position in Broadcom.
She noted that her firm first bought Broadcom in June 2024, and the stock has since risen 160%, becoming a prominent position with significant long-term gains.
Firestone explained that while her firm is increasing its overall chip position, this move reallocates some of those gains. Her firm did not previously own Nvidia, and she believes it makes sense to hold both.
Firestone said Aureus is now increasing overall exposure to chips by adding Nvidia, noting that Nvidia's GPU business has broader growth potential than Broadcom's, which mainly serves hyperscalers.
She emphasized that Nvidia's broader customer base and stronger long-term opportunities make it the better buy now, while maintaining exposure to both companies for balance.
Price Actions: AVGO stock traded 2.66% lower to $345.76 at last check on Thursday. NVDA is down 2.49%.
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