Quick Read – AVGO trades 23% below its 52-week high despite AI chip revenue jumping 143% to $10.8 billion last quarter. – Hock Tan projects AI chip revenue exceeding $100 billion by 2027, making the $522 Wall Street consensus price target look conservative. – Reaching $550…
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Broadcom (NASDAQ:AVGO) is in the middle of the most aggressive AI ramp in semiconductor history, yet shares trade nowhere near their 52-week high. CEO Hock Tan told investors last quarter that “Broadcom achieved record revenue, operating profit and free cash flow in Q2 driven by accelerating growth in AI semiconductor revenue and strong operating leverage”, with AI chip sales jumping 143% year-over-year to $10.8 billion. The stock sits at $382.07.
Can AVGO hit $550 by 2027? What’s Holding Broadcom Back Despite the blowout Q2 earnings, AVGO is down 8.33% over the past month and off 0.95% on the week. The stock peaked at $495 on the earnings release day and has declined since.