Overview

• Seeking Alpha raised Broadcom to Buy after Q3 results showed revenue up 22% year over year and AI revenue up 63% with stronger profitability.
• J.P. Morgan reiterated its Buy rating on September 16 and kept a $400 price target following a discussion with CFO Kirsten Spears.
• Analyst reports reference a reported partnership with OpenAI that would reinforce Broadcom’s position in custom AI chips.
• J.P. Morgan says Broadcom is on track to tape out first‑generation 2nm/3.5D packaged XPU products in 2025 for a prospective customer, framing it as a technology lead over merchant GPUs.
• Consensus estimates put the average price target at $382.50 as of September 23, while J.P. Morgan also cites a $120 billion AI revenue ambition by 2030 and potential scaling to one million XPU clusters.