Broadcom is Down Over 3 Months: One Wall Street Pro Sees 60%+ Gains Ahead

Broadcom is Down Over 3 Months: One Wall Street Pro Sees 60%+ Gains Ahead Alex Sirois Fri, August 14, 2026 at 5:42 PM GMT+2 5 min read AVGO AMD MRVL NVDA SPY Quick Read BNP Paribas Exane raised its AVGO target to $675, implying 61% upside, while 44 analysts rate the stock Buy with zero Sells. AMD rallied 14% and MRVL surged 26% over three months while AVGO stalled despite posting 143% AI revenue growth year over year. Hock Tan confirmed Q2 AI bookings of $30 billion against $10.

8 billion shipped, targeting $100 billion in AI revenue by fiscal 2027. Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Broadcom didn't make the cut. Grab the names FREE today .

Broadcom ( NASDAQ:AVGO ) trades at $417. 82 against a Wall Street average price target of $527. 88, leaving roughly 26% of implied upside.

oskay / BY 2. 0 Broadcom is the second largest merchant semiconductor company by market cap at $1. 99 trillion.

Its two engines are custom AI accelerators and networking silicon sold to hyperscalers, plus the VMware infrastructure software franchise. CEO Hock Tan has publicly committed to over $100 billion in AI semiconductor revenue in fiscal 2027, a target that reshapes the AI supply chain around Broadcom. One bulge-bracket desk sees the stock worth far more than consensus.

BNP Paribas Exane recently raised its target on Broadcom to $675 from $640 while maintaining an Outperform rating, implying more than 60% upside from here. Why the Stock Cooled Off While AI Peers Ran Broadcom is down 1. 57% over the past three months, but that understates the pullback.

Shares filed Q2 earnings on June 3, 2026 at $495, then drifted back to the low $400s despite a clean beat. The selloff was valuation-driven, not fundamentals-driven. The forward P/E sits near 69.

After a post-earnings squeeze, investors rotated into cheaper AI silicon names. Over the same three months, NVIDIA finished flat, while AMD rallied 13. 89% and Marvell surged 25.

64%. Broadcom was the odd one out. Sentiment data reinforces this.

The composite prediction market and social sentiment score for AVGO sits at 35. 03 with a bearish direction, and the 30-day trend has deteriorated by 24. 64 points.

Traders got cautious as fundamentals accelerated. Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Broadcom didn't make the cut. Grab the names FREE today .

Why Analysts Are Anchored on a Much Higher Number The bull case starts with Q2 results that beat on every line. Broadcom posted revenue of $22. 19 billion, up 47.

9% year over year, and non-GAAP EPS of $2. 44, the company's eighth consecutive EPS beat. AI semiconductor revenue reached $10.

8 billion, up 143% year over year, and management guided Q3 AI revenue to $16. 0 billion, above 200% year-over-year growth. Story Continues Broadcom carries 44 Buy ratings, 4 Hold ratings, and zero Sell ratings.

Recent revisions skewed higher following the June earnings report. Targets cluster in the $525 to $585 range, with Evercore ISI at $582, KeyBanc at $575, and Truist and Jefferies at $550. The Street-high $675 target from BNP Paribas Exane rests on three pillars: custom AI ASIC dominance across Google's TPU program, Meta's MTIA, and expanded commitments with partners like Apple; accelerating demand for Tomahawk 5/6 switching chips, PCIe switches, and optical interconnects; and margin expansion from VMware subscription conversion.

Hock Tan noted "demand for XPUs and networking is simply insatiable" and confirmed Q2 AI bookings of over $30 billion against $10. 8 billion shipped. The timeline analysts watch is 2027.

Full-year fiscal 2026 AI semiconductor revenue is guided to $56 billion, up roughly 180% from fiscal 2025, and fiscal 2027 AI revenue is guided in excess of $100 billion. Hit those numbers, and $527 looks conservative. Broadcom Is the Only AI Silicon Name That Sat Out the Rally NVIDIA ( NASDAQ:NVDA ) trades at $225.

30 against an average target of $302. 83, implying roughly 34% upside. Ratings run 58 Buy, 2 Hold, and 1 Sell, with revisions moving higher after Blackwell Ultra's ramp.

Advanced Micro Devices ( NASDAQ:AMD ) sits at $483. 01 after a 125. 54% year-to-date rally.

The average target is $613. 33, roughly 27% above spot, with 41 Buy and 10 Hold ratings as OpenAI and Meta MI450 deals get priced in. Marvell Technology ( NASDAQ:MRVL ) trades at $222.

18, up 161. 83% year to date, with an average target of $256. 91, or roughly 16% upside.

Coverage is 38 Buy and 5 Hold. Marvell has the smallest cushion in the group after its move. The largest implied upside in the peer set sits with Broadcom's $675 BNP target.

If analysts are correct, Broadcom carries the widest gap between price and thesis in AI silicon today. What the Stock Shows Broadcom is up 21. 17% year to date and 36.

17% over one year, ahead of the S&P 500, which is up 14. 07% year to date. Over the past three months, AVGO is flat while the index added ground.

At $417. 82, the consensus $527. 88 target maps to roughly 26% upside across 48 covering analysts.

The BNP Paribas Street-high of $675 implies just above 61%. Fundamentals support the gap: free cash flow of $10. 26 billion in Q2, adjusted EBITDA margins guided to roughly 68% for Q3, and cash on hand of $19.

63 billion. The Bottom Line The bull case holds if you believe the fiscal 2027 AI target of $100 billion in AI semiconductor revenue is credible. That path exists: Google TPU, Meta MTIA, OpenAI silicon deployment, and Anthropic compute commitments are all named in the transcript, with Q2 bookings at 2.

8x actual shipments. If that backlog converts, the multiple stops looking rich and the BNP $675 target becomes reasonable. The bear case holds if you think hyperscaler capex is peaking.

Customer concentration is real, the VMware debt load is real, and a forward multiple near 69 leaves no room for a stumble. If two of the six named custom silicon customers push out orders, this stock re-rates fast. The cautiously constructive lean: the peer group rallied while Broadcom sat still, and the setup into fiscal 2027 looks strongest in the group.

Consensus wants 26% upside. BNP wants 61%. The truth likely splits the difference, but risk/reward tilts to the upside.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Broadcom didn't make the cut. Grab the names FREE today . Contact editorial@247wallst.

com for any questions or corrections.