Overview

• Shares recently approached a new peak after hitting an all-time high of $374.23 on Sept. 11, capping a roughly 120% gain over the past year.
• Broadcom reported Q3 revenue of $15.95 billion, with AI sales up 63% to $5.2 billion, and it guided Q4 AI revenue to $6.2 billion.
• The company confirmed a $10 billion custom AI chip order from OpenAI, reinforcing its role in hyperscaler infrastructure.
• Susquehanna reiterated a Buy with a $400 target citing rack-level AI solutions and CEO incentives tied to aggressive AI growth, while Macquarie initiated Outperform with a $420 target on ASIC traction.
• Skeptics, including investor Stephen Weiss, argue the stock is too expensive and unlikely to challenge Nvidia’s lead, and near-term sales could be pressured by the loss of Apple’s Wi‑Fi/Bluetooth chip business.