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3 months ago

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Version 13 months ago

What changed: Updated the story to include 106% AI revenue growth, the scaling of Tomahawk 6 switch shipments, and the new custom chip partnership with Meta.

StocksUpdated•Originally published 28 April 2026•Updated 29 April 2026•

1 min read

Wall Street Bullish on Broadcom (AVGO) Amid Surging AI Growth Projections

Key Facts

194% of Wall Street analysts hold Buy ratings on Broadcom, with price targets suggesting over 13% upside.

2Analysts project more than 48% EPS growth for AVGO over the next five years, driven by custom chips and AI networking.

3Major firms including J.P. Morgan, Wells Fargo, and Mizuho have reiterated Buy ratings on the stock.

Wall Street analysts have consolidated a highly bullish consensus on Broadcom Inc. (AVGO) following Q1 results that showed AI revenue surging 106% year-over-year. This optimism is further bolstered by the large-scale shipping of Tomahawk 6 switches and a new custom chip agreement with Meta targeting multi-gigawatt capacity. Major financial institutions, including J.P. Morgan and Wells Fargo, maintain Buy ratings, with 94% of analysts projecting an upside of over 13%. The company's growth trajectory is supported by expected EPS expansion of 48% over the next five years, driven by its dominant role in AI infrastructure. Strategic partnerships with industry leaders like Google and OpenAI continue to solidify Broadcom's market position. Analysts believe the company is uniquely positioned to capture long-term value from the accelerating demand for specialized semiconductor solutions.

Sources:

Insider Monkey

zacks.com