Wall Street Sees Big Upside for Broadcom After Q1 Beat

Overview

• Broadcom posted first‑quarter revenue of $19.31 billion, up 29% year over year, with adjusted EPS of $2.05 and AI chip sales rising 106% to $8.4 billion.
• Analyst support is broad, with over 95% Buy ratings and a $472.50 average target implying about 57% upside, while Bridgewater boosted its stake to 1.17 million shares by late 2025.
• Truist raised its price target to $545 and JPMorgan to $500 after the quarter, pointing to strong guidance and momentum in AI semiconductors.
• Broadcom introduced Symantec CBX, a cloud platform that blends Symantec and Carbon Black tools to give smaller security teams unified detection and response.
• Broadcom and distributor Carahsoft secured a five‑year, $970 million Defense Information Systems Agency agreement that streamlines federal software purchasing.