The Best Chip Stock to Own in December

AVGO options are affordable at the moment

Deputy Editor
Nov 30, 2023 at 1:50 PM
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Schaeffer's Senior Quantitative Analyst Rocky White's list of the 25 best stocks to own in December is out. Today, we're focusing on semiconductor concern Broadcom Inc (NASDAQ:AVGO) that takes the number two spot of the best performing stocks next month. 

According to White's data, Broadcom stock averaged a December gain of  7.1% over the past 10 years, and finished with a positive monthly eight of those times. A comparable move from AVGO's current perch of $925.84 would put it above $991.50, or near its Nov. 20 record high of $999.87.

Best of December November 302023

On the charts, Broadcom stock is continuing to cool from its aforementioned highs, last seen down 1.6% at $926.01. Though it's pacing for its fourth-straight loss, the security is still pacing for a 10.2% November gain -- its best since May -- and its ninth monthly win this year. As such, AVGO boasts a 65.8% year-to-date gain.

AVGO Repost November 302023

Speculating with options looks like an affordable route, too. This is because options traders are pricing in relatively low volatility expectations at the moment, per Broadcom stock's Schaeffer's Volatility Index (SVI) reading of 34% that stands higher than just 25% of annual readings.

 

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