Broadcom (AVGO) closed at $361.54 and traded at $356.88 at noon Monday, down 1.29%, up only 3.68% year to date and below its 52-week high of $493.28, amid concerns over AI-related borrowing. Fiscal Q3 revenue rose 85.5% to $29.59 billion, ahead of the $29.44 billion consensus, with non-GAAP EPS of $3.32 versus $3.24 expected, while AI semiconductor revenue climbed 221% to $16.70 billion. Management guided fiscal Q4 AI revenue to $21.7 billion on total revenue of about $34.8 billion, and said AI bookings exceeded $30 billion with visibility into 2028. Risks named in the article include reliance on a few large frontier model developers, possible margin pressure as lower-margin TPU and ASIC sales grow, and total liabilities of $88.46 billion tied partly to the VMware deal. The article cites a 24/7 Wall St. price target of $429.85 and a Wall Street consensus target of $531.31.
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