That’s the reality of today’s big tech companies, where shares can tank even when fiscal results are upbeat. Here’s what analysts are saying:
Benchmark analyst Cody Acree maintained a Buy rating, and lifted the price target from $485 to $545.
DA Davidson analyst Gil Luria reiterated a Neutral rating, while raising the price target from $375 to $400.
KeyBanc Capital Markets analyst John Vinh reaffirmed an Overweight rating, while taking the price target higher from $500 to $575.
JPMorgan analyst Harlan Sur maintained an Overweight rating, while raising the price target from $500 to $580.
Rosenblatt Securities analyst Kevin Cassidy reiterated a Buy rating and price target of $500.
Cantor Fitzgerald analyst C.J. Muse maintained an Overweight rating and price target of $525.
Check out other analyst stock ratings.
Benchmark: Broadcom's shares shed about 13% Wednesday after-hours despite the company reporting record quarterly results. Acree mentioned four reasons for the massive sell-off:
Although AI semiconductor guidance for the fiscal third quarter, at $16.0 billion, represented more than 200% year-on-year growth, it missed consensus of $17.2 billion.
Gross margin in the fiscal third quarter will contract by around 300 basis points (bps) sequentially as custom accelerators become a larger part of the mix.
The fiscal 2026 AI semiconductor outlook of $56 billion missed Street expectations of $57.5 billion.
The fiscal 2027 AI semiconductor framework remained at more than $100 billion, rather than an upward revision.
"We expect a further contributor to the stock’s weakness was management’s public acknowledgment that ...
