The author argues Broadcom could reach a $4.5 trillion market cap by 2030, from just over $1.5 trillion today. The thesis rests on rising demand for Broadcom's custom AI processors (XPUs) from customers such as Alphabet's Google, Meta Platforms, Anthropic and OpenAI, with XPU shipments up 3.5x and AI networking revenue up 2.5x year over year in fiscal Q3 2026. Broadcom expects AI revenue of $58 billion in fiscal 2026 and $230 billion in fiscal 2028, with EPS that could exceed $30.00 in fiscal 2028. Assuming 30% annual EPS growth in fiscal 2029 and 2030 to reach $51.36, and a 20x multiple, the article estimates a share price of $1,027, just over 3x current levels. The stock trades at 17 times forward earnings, a slight discount to the Nasdaq-100's 21.5.
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