Broadcom is Down Over 3 Months: One Wall Street Pro Sees 60%+ Gains Ahead

Broadcom (NASDAQ:AVGO) trades astatine $417.82 against a Wall Street mean terms people of $527.88, leaving astir 26% of implied upside.

Broadcom is the 2nd largest merchant semiconductor institution by marketplace headdress astatine $1.99 trillion. Its 2 engines are customized AI accelerators and networking silicon sold to hyperscalers, positive the VMware infrastructure bundle franchise. CEO Hock Tan has publically committed to implicit $100 cardinal successful AI semiconductor gross successful fiscal 2027, a people that reshapes the AI proviso concatenation astir Broadcom.

One bulge-bracket table sees the banal worthy acold much than consensus. BNP Paribas Exane precocious raised its people connected Broadcom to $675 from $640 portion maintaining an Outperform rating, implying much than 60% upside from here.

Why the Stock Cooled Off While AI Peers Ran

Broadcom is down 1.57% implicit the past 3 months, but that understates the pullback. Shares filed Q2 net connected June 3, 2026 astatine $495, past drifted backmost to the debased $400s contempt a cleanable beat. The selloff was valuation-driven, not fundamentals-driven.

The guardant P/E sits adjacent 69. After a post-earnings squeeze, investors rotated into cheaper AI silicon names. Over the aforesaid 3 months, NVIDIA finished flat, portion AMD rallied 13.89% and Marvell surged 25.64%. Broadcom was the unusual 1 out.

Sentiment information reinforces this. The composite prediction marketplace and societal sentiment people for AVGO sits astatine 35.03 with a bearish direction, and the 30-day inclination has deteriorated by 24.64 points. Traders got cautious arsenic fundamentals accelerated.

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Why Analysts Are Anchored connected a Much Higher Number

The bull lawsuit starts with Q2 results that bushed connected each line. Broadcom posted gross of $22.19 billion, up 47.9% twelvemonth implicit year, and non-GAAP EPS of $2.44, the company's eighth consecutive EPS beat. AI semiconductor gross reached $10.8 billion, up 143% twelvemonth implicit year, and absorption guided Q3 AI gross to $16.0 billion, supra 200% year-over-year growth.