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2h ago

Mizuho Reaffirms Broadcom as Top Pick With $410 Target After Stock Pullback

The endorsement hinges on accelerating ASIC sales that Mizuho says position Broadcom as the leader in custom AI chips.

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Overview

  • On October 3 Mizuho kept Broadcom on its Top Picks list, followed on October 6 by an Outperform reiteration and a $410 price target.
  • Mizuho labels Broadcom the “King of AI Custom Silicon,” citing faster ASIC revenue growth and expanding engagement with large cloud customers.
  • The firm recommends buying shares on recent weakness even as some investors flag potential margin dilution.
  • Yahoo Finance and Insider Monkey republished the analyst note and included additional promotional material from the publishers.
  • Broadcom reported about $16 billion in Q3 FY2025 revenue, with AI sales rising 63% year over year to $5.2 billion, underscoring momentum in custom chips and networking.