Broadcom Reiterates AI Revenue Targets Up to $230B by 2028, Locks 2027 Chip Supply
AVGO sits 26% above its 52-week low of $289.96.
Summary
Broadcom reiterated aggressive AI revenue targets: $58B for FY2026, ~$115B for FY2027, and $230B for FY2028. CEO Hock Tan, speaking at Goldman Sachs' tech conference, said the company can lock chip supply for 2027 and is securing supply deals for 2028. JPMorgan added that Broadcom may be Alphabet's top TPU partner, capturing about two-thirds of that program. This follows strong Q3 results and a $34.8B Q4 guide, reinforcing the AI-driven growth narrative. The supply chain visibility and potential Alphabet TPU win are incremental positives for the stock.
At the time of this announcement, AVGO was trading at $366.60 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.8T. The 52-week trading range was $289.96 to $495.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.