Overview

• Broadcom posted Q3 revenue of $15.95 billion with adjusted EPS of $1.69, and reported AI semiconductor sales of $5.2 billion, up 63% year over year.
• The company guided fiscal Q4 AI revenue to $6.2 billion, a 66% increase from a year earlier, reinforcing its pivot to custom AI infrastructure.
• Management disclosed $10 billion in AI infrastructure orders from a new customer, with the buyer unconfirmed and widely speculated in reports to be OpenAI.
• Mizuho lifted its price target to $410 and kept an Outperform rating, CFRA raised its target to $380 with a Buy, and Macquarie set a Street-high target of $420.
• China’s Ministry of Commerce launched an anti-dumping probe into U.S. analog IC chips that named Broadcom alongside several peers, and the stock fell 3.84% on Wednesday in a second straight decline.