Broadcom Draws Fresh Buy Calls on AI Momentum After Wi‑Fi 8 Debuts

Overview

• Jefferies on February 5 reiterated a Buy rating, kept Broadcom as its Top Pick, and maintained a $500 price target.
• Jefferies’ model projects about 6 million Google units in 2027 with 85%–90% of that business going to Broadcom, and it sees Broadcom ahead of MediaTek on current and next‑gen chips.
• Wolfe Research upgraded the stock to Outperform with a $400 target and expects Broadcom’s AI revenue to double in 2027.
• On February 3 Broadcom announced what it calls the industry’s first Wi‑Fi 8 access point and switch, powered by the BCM49438 APU and the Trident X3+ BCM56390 for AI‑ready enterprise networks.
• Jefferies flagged sustainability of AI spend and COT distribution as overhangs but highlighted accelerating networking driven by the TH6 ramp, DSP share gains, and strength in China.