Nvidia's (NVDA -3.01%) share price has declined significantly in 2024. Yes, you read that correctly. At the beginning of the year, Nvidia's share price was around $492. Today, the share price is less than one-fourth of that amount.

Of course, there's a good reason for this "decline": Nvidia conducted a 10-for-1 stock split following the market close on June 7. In reality, the stock has soared more than 120% year to date.

Is Nvidia the best stock-split stock around? Not necessarily. Here are two better stock-split stocks to buy right now than Nvidia, according to Wall Street.

1. Hitachi

Hitachi (HTHIF -0.44%) (HTHIY) is a Japanese conglomerate. It operates in a wide range of industries, including automotive systems, construction machinery, green energy, metals, technology, and more. The company conducted a 5-for-1 stock split effective July 1, 2024.

This Japanese stock has already been a big winner in 2024. Hitachi's revenue rose nearly 12% year over year in its fiscal year ending March 31, 2024. The company's profits jumped a little over 12%.

How much higher can Hitachi go? The lone analyst surveyed by LSEG in July who covers the stock thinks Hitachi has an upside potential of 49% over the next 12 months. That's more than double the expected gain for Nvidia based on LSEG's survey of 38 analysts.

2. Broadcom

Broadcom (AVGO -2.19%) ranks as one of the biggest semiconductor makers in the world. The company also develops infrastructure software and acquired cloud and virtualization technology specialist VMware in November 2023. Broadcom conducted a 10-for-1 stock split following the market close on July 11, 2024.

The stock has also soared so far this year. Broadcom's momentum has been largely due to growing demand for its artificial intelligence (AI) products, especially AI accelerators. The VMware acquisition has also contributed significantly to the company's higher revenue.

Wall Street is exceptionally bullish about Broadcom. Of the 29 analysts surveyed by LSEG in July, 27 rate the stock as a "buy" or "strong buy." The average 12-month price target for Broadcom is nearly 31% higher than the current share price. That's well above Wall Street's projected upside potential of 21% for Nvidia.

Is Wall Street right about these stock-split stocks?

There's one common denominator for Nvidia, Hitachi, and Broadcom: AI should continue providing a major tailwind for all three stocks.

In March, Hitachi announced a collaboration with Nvidia on generative AI development. Two months later, the Japanese company partnered with Alphabet's Google Cloud to use its Gemini AI models. In June, Hitachi and Microsoft teamed up to use generative AI to drive growth for Hitachi's Lumada business software and services unit.

Broadcom CEO Hock Tan expects his company's AI networking revenue will soar 40% year over year in 2024. Customer AI accelerators is also a thriving and highly profitable business for Broadcom.

However, I'm not so sure Wall Street is right that Hitachi and Broadcom will outperform Nvidia over the next 12 months. Nvidia's upcoming launch of its new Blackwell GPU architecture could be a game changer. CEO Jensen Huang certainly thinks so. Huang recently predicted that Blackwell be the company's most successful product ever.

I wouldn't completely dismiss analysts' optimism about Hitachi and Broadcom. Both stocks might hit their 12-month price targets. But if I had to bet on only one of these three stock-split stocks, it would be on Nvidia.