Quick Read – AVGO dropped 17% despite record $22B revenue and a consensus beat, prompting JPMorgan to set a $580 target and urge aggressive buying. – Broadcom’s AI semiconductor revenue surged 143% to $11B, backed by multi-gigawatt compute commitments from Anthropic, OpenAI, and…
ta through 2029. – Despite 44 Wall Street buy ratings and zero sells, Broadcom insiders have been net sellers across 35 recent transactions as gross margins compress. – 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) posted record revenue of $22.19 billion on June 3, 2026, beat consensus on the top and bottom line, raised guidance, and lost roughly a fifth of its market value over the following week. The stock went from $495 at the filing to $385.73 one day later. The broader chip complex dropped alongside it.
AVGO sits at $395 as of this writing, still down 4% while SPY is down 0.3% over the same window. What JPMorgan is actually saying Late on last week, JPMorgan reiterated its Overweight rating with a $580 price target and told clients to be “aggressive buyers” of Broadcom at current levels. The thesis rests on two arguments the bank thinks the market is mispricing.