Broadcom stock is down 6.6% over the past year, closing at $321.68 on October 23, and sits 32.9% below its June 3 close of $479.23.
The Street’s mean price target is $529.10, 64.5% above the latest close.
Analysts expect normalized EPS to climb from $6.82 in fiscal 2025 to $30.38 in fiscal 2028, right in line with CEO Hock Tan’s call for more than $30.
Next up is Broadcom’s fiscal Q4 report, which the company plans to release on December 9, against guidance of $34.8B in revenue and $21.7B in AI chip sales.
Broadcom (AVGO:NASDAQ) stock is down 6.6% over the past year, closing at $321.68 on October 23. A 12.59% one-day drop in June and an October chip selloff erased a spring rally that had been built on a long-term chip deal with Alphabet (GOOGL:NASDAQ) unit Google.
By my math, that leaves Broadcom stock 32.9% below its June 3 close. Over the same stretch, the company raised its AI revenue outlook and told investors it expects AI chip sales to double in each of the next two fiscal years. Since June, the business and the share price have moved in opposite directions.
How Broadcom Stock Got to $479
AVGO Stock Price: 1-Year (TIKR)
The first months of the period went the wrong way. Broadcom shares fell more than 11% on December 12, 2025, after the company warned that a bigger mix of lower-margin custom AI processors would squeeze profitability, Reuters reported. The stock kept drifting lower and dipped below $300 in early April.
Then the deal arrived. On April 6, Broadcom disclosed in an 8-K filing a long-term agreement to develop and supply future generations of Google’s Tensor Processing Units (TPUs, Google’s custom AI chips). The agreement also covers networking parts for Google’s next-generation AI racks through up to 2031. The same filing said Anthropic would access approximately 3.5 gigawatts of TPU-based compute through Broadcom beginning in 2027. The climb that followed carried Broadcom stock to a $479.23 close on June 3.
Two Days That Undid AVGO’s Spring Rally
The second-quarter report that evening broke the run. Revenue of $22.19 billion landed just short of the $22.27 billion analysts expected, and management kept its AI chip forecast unchanged instead of raising it. The stock fell 12.59% on June 4 to $418.91, giving back $60.32 a share in one session.
The next hit came from a rival. On August 19, Marvell Technology (MRVL:NASDAQ) disclosed a custom chip agreement with Google and issued Google a warrant to buy up to 58,970,907 Marvell shares at $206.58 each. Broadcom has built every generation of Google’s TPU for over 10 years, so a second supplier inside that account landed hard: Broadcom stock fell about 5% that day
TIKR Tracks 53 Analysts on Broadcom. How Many Say “Buy”?
See the full breakdown of Buy, Hold, and Sell ratings on Broadcom, along with Wall Street’s revenue and earnings estimates, all in one place. More than 500,000 investors use TIKR to research stocks like this one. See Broadcom’s Analyst Ratings
A Record Quarter Broadcom Stock Couldn’t Rally On
Broadcom’s fiscal third-quarter report on September 2 was its biggest yet. Revenue rose 86% to $29.6 billion, with AI semiconductor revenue more than tripling to $16.7 billion. Adjusted EPS of $3.32 beat the $3.24 estimate.
Management also raised its fiscal 2026 AI revenue outlook to $58 billion from $56 billion. It said AI sales should double to approximately $115 billion in fiscal 2027, then double again to $230 billion in fiscal 2028. Still, the fourth-quarter revenue guide of $34.8 billion came in a touch under the Street’s consensus of just over $35.0 billion, and the stock fell about 3% the next day.
CEO Hock Tan put the earnings math plainly on the Q3 fiscal 2026 earnings call: “I got to say we are very much on target to exceed $30 in earnings per share in fiscal 2028.”
AVGO EPS Normalized: FY2023 to FY2028 (TIKR)
The Street’s estimates line up with him. Analysts’ normalized EPS estimates run from $11.66 in fiscal 2026 to $19.43 in fiscal 2027 and $30.38 in fiscal 2028, compared with $6.82 in fiscal 2025. That’s 4.5 times the fiscal 2025 figure in three years, by my math.
October’s Chip Rout Pushed AVGO to $321.68
On October 12, at a panel in Singapore, Tan likened many AI investors to casino gamblers and said capital, not chip supply, would be the biggest constraint on AI growth. Broadcom shares ended 0.7% higher the next day.
The bigger blow came from the wider market. Reuters reported that the Philadelphia Semiconductor Index fell 11.4% in the week to October 16, its biggest weekly drop since March 2025. Hot US inflation had raised the odds of Federal Reserve rate hikes, and debt worries at CoreWeave (CRWV:NASDAQ) spread across AI stocks. Broadcom closed up 1.78% at $334.59 in the October 19 bounce, then slid again to close at $321.68 on October 23.
Why the Street Hasn’t Followed Broadcom Stock Down
The mean price target is $529.10, 64.5% above the October 23 close. It kept rising through 2026 while the stock went the other way, climbing from the mid-$450s in January. By my math, it’s up 446.4% from $96.83 three years ago. That fits with analysts’ earnings estimates holding steady through the selloff. Analysts are anchoring on the order book, and an 11.4% week in the chip index hasn’t moved them.
AVGO Stock Mean Price Target: 3-Year (TIKR)
What Broadcom Stock Needs From Its December Report
At $321.68, Broadcom trades at 16.6 times the Street’s fiscal 2027 EPS and 10.6 times its fiscal 2028 EPS, by my math. That’s a low multiple for a company guiding to double AI revenue twice. It also means the next two reports matter far more than the next swing in the chip index.
December 9 is the first check. Broadcom has guided to $34.8 billion in fourth-quarter revenue, $21.7 billion of it from AI chips, at an operating margin near 66%. Management said it won’t update the fiscal 2027 and 2028 AI targets each quarter, so that $21.7 billion is the number that either confirms the path or puts it in doubt. The board also makes its yearly capital allocation decision in December. At a Goldman Sachs conference on September 8, Tan named a stock buyback as one of the two likely uses for the cash.
The first check is the fiscal fourth-quarter report, which Broadcom said on its September call it plans to release on December 9. Broadcom has guided to $34.8 billion in fourth-quarter revenue, $21.7 billion of it from AI chips, at a non-GAAP operating margin near 66%. Management said it won’t update the fiscal 2027 and 2028 AI targets each quarter, so that $21.7 billion is the number that either confirms the path or puts it in doubt. The board also makes its yearly capital allocation decision in December. At a Goldman Sachs (GS:NYSE) conference on September 8, Tan named a stock buyback as one of the two likely uses for the cash.
So what is Broadcom stock actually worth?
TIKR lets you forecast the future price of any stock in less than a minute. Just enter a few assumptions into TIKR’s valuation model and see what AVGO stock could be worth. Start from Wall Street consensus estimates, or adjust the inputs to reflect your own view of the business. It’s free to use.
With nearly 10 months of 2026 in the books, it’s fair to say that this year hasn’t been easy for equity investors, but they’ve been rewarded for taking risks. The Nasdaq-100 and S&P 500 (^GSPC -0.52%) are up 14.6% and 11.7%, respectively, year to date, confirming market participants are being compensated for enduring equity market
Stocks generally trend higher over the long term, but it’s getting harder to ignore the growing chorus of risks that could derail the current bull market. Neocloud companies, which operate artificial intelligence (AI) data centers, are finding it harder to access affordable funding to build more infrastructure, which could put a dent in the sales
Much of what we know about the stock market comes from a mix of theory and empirical evidence. For example, the idea that earnings drive stock prices is supported by the view that a business’s value is tied to how much money it makes. And decades of market data show that stock prices and earnings
Space infrastructure and generative artificial intelligence (AI) are two of the hottest megatrends currently taking Wall Street by storm. And Space Exploration Technologies (NASDAQ: SPCX) offers exposure to both. That said, with a market cap of $2.16 trillion, investors will naturally wonder if the company can still generate enough momentum to move the needle. Let’s
Quick Read Altria (MO) reports Q3 earnings Oct. 29, with the stock up 35% year to date on Marlboro’s pricing strength offsetting cigarette volume declines. Marlboro’s retail share slipped from 40% to 40% to 39.5% as discount cigarettes captured 34% of the market, pressuring margins heading into Q3. After back-to-back earnings-day drops of 5% and
Quick Read CAT’s $72 billion backlog, with 59% expected to ship within 12 months, anchors the bull case after shares fell 15% over the past month. Power generation sales surged 72% last quarter on data center demand, but $2.2 billion in full-year tariff costs remain a significant headwind. Wall Street expects Q3 EPS to jump
With the UK government preparing a £40b plus housing programme and fresh borrowing powers for local projects, long term cash flows are back in focus for British assets tied to the real economy. When policy leans toward bricks, mortar and infrastructure, investors often start hunting for solid cash generators that markets have priced too cautiously.
With incredible gains of 350% over the past year, shares of Micron Technology (NASDAQ: MU) have easily outpaced the 68% jump in the PHLX Semiconductor Sector index. However, Micron stock has been in the doldrums of late, sliding 25% from the 52-week high it reached in June this year. Micron’s pullback is driven more by
On Oct. 20, Space Exploration Technologies (NASDAQ: SPCX) reported its 2026 third-quarter earnings, posting some impressive numbers. According to CNBC-tracked analyst estimates, revenue of $14.5 billion easily topped the $12.7 billion expected, and adjusted earnings per share of $0.45 once again beat the $0.13 expected. In addition, SpaceX reported net income of $4.4 billion, a
A stock split is a corporate action in which a company increases the number of shares it has outstanding by dividing existing shares into multiple shares and proportionately decreasing its share price. Stock splits don’t change a company’s intrinsic value, but they can garner significant attention because they make each share more affordable, potentially increasing
On September 15, we advised investors to proceed with caution. We pushed out our 8,400 S&P 500 target from year-end 2026 to mid-2027 and set 7,900 as our new year-end target. On October 14, we reiterated our caution. Sure enough, the stock market has been turbulent since mid-September, with AI-related stocks falling sharply. We are
The midterm elections are fast approaching, and the world will be watching as voters head to the polls on Nov. 3 to elect their state representatives in the U.S. House of Representatives and the U.S. Senate. With politics as partisan as ever and so much going on in the world, including the Iran war, investors
Jefferies said that despite management’s optimism that its backlog continues to grow faster than revenue, Bloom Energy did not provide a formal backlog update. JPMorgan also lowered its price target on Bloom, cutting it to $292 from $314 while maintaining an ‘Overweight’ rating. The firm attributed the reduction to lower trading multiples among Bloom Energy’s
How Q3 results and shareholder moves reshaped the Badger Meter story Badger Meter (BMI) set its latest tone with a Q3 2026 update that paired almost flat revenue with higher earnings per share, a fresh dividend increase, and ongoing buybacks. Sales for the quarter came in at US$235.94 million compared with US$235.65 million a year
The tokenized equities market is booming at an almost unbelievable pace, with its total market value climbing by an incredible 790% year over year as of Oct. 12, according to research by Grayscale. But the boom won’t automatically lift coins like Solana (SOL -0.54%), and much to investors’ chagrin, the same is true for many
So your portfolio is redder than a stoplight, and your AI stocks are doing their best impression of a deflating balloon. The Nasdaq Composite (^IXIC -0.21%) has fallen 7.6% from its early October highs, dragging other market indicators lower. Pullbacks of this magnitude tend to rattle investors, particularly those who piled into artificial intelligence plays
Investors are afraid. That’s the conclusion of CNN’s Fear and Greed Index. The index incorporates seven indicators, including market momentum, stock price strength, and market volatility. CNN’s index has spent most of the last two months hovering between a level of “fear” and “extreme fear.” Warren Buffett has one piece of advice for investors worried
Meta Platforms (META) is introducing non-voting Class C shares to widen its options for raising capital, rewarding employees, and financing acquisitions without weakening CEO Mark Zuckerberg’s voting control. On Wednesday, Oct. 21, the board approved the charter amendment alongside its Q3 results, with a revised certificate of incorporation scheduled to take effect on Tuesday, Jan.
Photo by Kevin Mazur / Getty Images for Robin Hood Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. Wall Street’s appetite for artificial intelligence has helped fuel a stock market boom. But billionaire investor Paul Tudor Jones is worried about what happens when the bill comes due.
