Broadcom

AVGO · NASDAQ

$334.37−$0.22 (−0.07%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $334.59

AVGO analyst rating

BuyConsensus of 31 analysts over the last 12 months. 87% rate it a buy.

Strong buy0
Buy27
Hold4
Underperform0
Sell0

12-month price target · 51 analysts

Average $529.65 (+58.4% upside)

Low: $218.04
Now: $334.37
High: $750.75

Upgrades and downgrades

The latest rating actions, newest first

AVGO analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Piper Sandler	Sep 10, 2026	Initiates	Overweight	$460.00	67%
Citigroup	Sep 4, 2026	Maintains	Buy	$500.00 → $515.00	71%
DA Davidson	Sep 4, 2026	Maintains	Neutral	$400.00 → $350.00	51%
Macquarie	Sep 3, 2026	Upgrade	Neutral → Outperform	$490.00	0%
Raymond James	Sep 3, 2026	Maintains	Outperform	$450.00 → $475.00	69%
Evercore ISI Group	Sep 3, 2026	Maintains	Outperform	$582.00 → $578.00	61%
TD Cowen	Sep 3, 2026	Maintains	Buy	$500.00 → $475.00	39%
Truist Securities	Sep 3, 2026	Maintains	Buy	$550.00 → $520.00	75%
StoneX	Sep 3, 2026	Maintains	Buy	$545.00	75%
Morgan Stanley	Sep 3, 2026	Maintains	Overweight	$502.00 → $505.00	56%

The case for and against

Updated Oct 14, 2026

Bull case

Broadcom is positioned for sustained outperformance because AI demand is translating into extraordinary top-line growth, with 3Q26 revenue up 85% year over year to $29.6B and semiconductor solutions up 127.4% to $20.8B, now 70% of consolidated revenue. Management’s visibility through 2028, including AI semiconductor revenue guidance of $115B in FY27 and $230B in FY28, alongside multi-gigawatt deployments for Anthropic and OpenAI, supports the view that demand remains well above secured supply despite near-term margin pressure from higher memory costs. Its diversified mix of custom accelerators, networking, and infrastructure software, plus strong operating leverage and debt reduction, underpins a positive outlook and suggests EPS can exceed $30 in FY28.

Bear case

Broadcom is facing a negative fundamental setup because the market’s expectations were already elevated, yet near-term revenue guidance failed to clear that bar, even after strong quarterly results. Although AI custom silicon was $12.2B, up 261% Y/Y and now 73% of AI semiconductor revenue, the business still carries cyclical risk from a semiconductor super cycle entering its 4th year, potential customer disintermediation, and lower XPU revenue per GW trends. Non-AI semiconductor revenue of about $4.14B and infrastructure software revenue of $8.75B both came in below expectations, while margin pressure, circular funding concerns, and acquisition integration risk continue to cloud durability.

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