BNP Paribas Exane raised its AVGO target to $675, implying 61% upside, while 44 analysts rate the stock Buy with zero Sells. AMD rallied 14% and MRVL surged 26% over three months while AVGO stalled despite posting 143% AI revenue growth year over year. Hock Tan confirmed Q2 AI bookings of $30 billion against $10.8 billion shipped, targeting $100 billion in AI revenue by fiscal 2027.
Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Broadcom didn't make the cut. Grab the names FREE today. Broadcom (NASDAQ:AVGO) trades at $417.82 against a Wall Street average price target of $527.88, leaving roughly 26% of implied upside.
Broadcom is the second largest merchant semiconductor company by market cap at $1.99 trillion. Its two engines are custom AI accelerators and networking silicon sold to hyperscalers, plus the VMware infrastructure software franchise. CEO Hock Tan has publicly committed to over $100 billion in AI semiconductor revenue in fiscal 2027, a target that reshapes the AI supply chain around Broadcom.
One bulge-bracket desk sees the stock worth far more than consensus. BNP Paribas Exane recently raised its target on Broadcom to $675 from $640 while maintaining an Outperform rating, implying more than 60% upside from here. Broadcom is down 1.57% over the past three months, but that understates the pullback.
Shares filed Q2 earnings on June 3, 2026 at $495, then drifted back to the low $400s despite a clean beat. The selloff was valuation-driven, not fundamentals-driven. The forward P/E sits near 69.
After a post-earnings squeeze, investors rotated into cheaper AI silicon names. Over the same three months, NVIDIA finished flat, while AMD rallied 13.89% and Marvell surged 25.64%. Broadcom was the odd one out.
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