On June 3, Broadcom rose 3.01% overnight, trading at $496.06/share, with trading volume of $8.77 million. The movement comes as the company is set to report its FY2026 second-quarter earnings after market close on the same day.
On the news front, multiple investment banks have recently raised their target prices on Broadcom: Bank of America Global Research raised its target from $515 to $600; Morgan Stanley increased to $485; and UBS raised to $490, forecasting fiscal Q3 AI-related revenue of $13.6 billion. The market expects Q2 revenue of approximately $22.1 billion, representing a year-over-year increase of about 47%, with AI semiconductor revenue projected at $10.7 billion, up roughly 30% sequentially, driven by strong demand for custom ASIC chips and networking products.
Management previously stated that AI chip revenue would exceed $100 billion by 2027, with some institutions suggesting this target may be revised upward. If the earnings call signals stronger confidence, it could serve as an additional catalyst for the stock.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
