AVGOAISemiconductor revenue su

AVGOAISemiconductor revenue surged 143% year-over-year to $10.8 billion. CEO Hock Tan reported over $30 billion in Q2 AI chip orders, highlighting significant near-term supply shortages. Anthropic accounts for $21 billion of the backlog, with agreements to expand its next-gen compute footprint into 2027.

The company guided to a Q3 revenue midpoint of $29.4 billion, versus consensus of $28.25 billion. Analysts were looking for $Broadcom(AVGO)$ to raise AI revenue expectations, but the CEO reiterated fiscal year targets of $56 billion for FY26 and $100 billion for FY27. Analysts at Goldman Sachs, Mizuho, Citi, and Deutsche Bank have raised their price targets and view the selloff as an overreaction to a temporary bottleneck rather than a fundamental demand problem.

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