AVGO Stock: What to Know Before the Market Opens on November 17, 2025

Broadcom (NASDAQ: AVGO) heads into Monday’s session as one of the most closely watched AI and semiconductor names on the market. After a powerful run driven by custom AI chips, the VMware acquisition and a blockbuster partnership with OpenAI, AVGO is trading near record levels — but also at a valuation that leaves little room for disappointment.

If you’re watching AVGO before the U.S. market opens on Monday, November 17, 2025, here’s what matters most right now.

AVGO Price Snapshot Before Monday’s Bell

Broadcom shares closed at $342.46 on Friday, November 14, 2025, up 0.73% on the day. That gives the company a market value around $1.6 trillion and leaves the stock between its 52‑week low of $138.10 and 52‑week high of $386.48. ^[1]

Key current metrics based on the latest available data:

Last close: $342.46
52‑week range: $138.10 – $386.48 ^[2]
Market cap: ≈ $1.6 trillion ^[3]
Dividend: $2.36 annually ($0.59 quarterly), yield ~0.7% ^[4]

Several data providers estimate that AVGO is up roughly 50% year‑to‑date and about 110% over the last 12 months, far outpacing the broader market and even many peers in the semiconductor space. ^[5]

At these levels, AVGO trades on a rich multiple:

Trailing P/E in the mid‑80s on many data sets ^[6]
Forward P/E around 40–41, reflecting expectations for powerful earnings growth over the next year ^[7]

That combination — big AI‑driven upside and a premium valuation — is exactly why Monday’s early trading could be sensitive to even small changes in sentiment.

Quick pre‑market checklist
Stock is near the upper end of its 52‑week range
Valuation is well above sector averages
Narrative is dominated by AI accelerators, VMware integration and upcoming Q4 earnings
Institutions and billionaires continue to add exposure
Headline risk exists around layoffs and VMware customer backlash

AI Momentum: Q3 Earnings, OpenAI Deal and Mega‑Orders

Q3 2025: Record numbers powered by AI

Broadcom’s most recent reported quarter — fiscal Q3 2025, released on September 4 — set the fundamental backdrop for the stock going into November: ^[8]

Total revenue: $15.95 billion, up 22% year over year
AI semiconductor revenue: $5.2 billion, up 63% YoY, marking ten consecutive quarters of AI revenue growth
Semiconductor revenue: $9.2 billion, ≈26% YoY growth
Infrastructure software (including VMware): $6.8 billion, up 17% YoY, about 43% of revenue ^[9]
Adjusted EBITDA: $10.7 billion (≈67% of revenue)
Free cash flow: roughly $7.0 billion, about 44% of revenue
Dividend: maintained at $0.59 per share for the quarter

Management also guided Q4 FY2025 revenue to about $17.4 billion, implying around 24% YoY growth, and projected AI semiconductor revenue of $6.2 billion for the quarter. ^[10]

Those AI numbers are a big part of why analysts and investors continue to treat AVGO as a core AI infrastructure play rather than a “traditional” chip stock.

The OpenAI 10‑gigawatt custom chip deal

The biggest strategic headline for AVGO recently is its multi‑year partnership with OpenAI:

On October 13, 2025, OpenAI and Broadcom announced a collaboration to develop and deploy up to 10 gigawatts of custom AI accelerators. ^[11]
OpenAI designs the accelerators and systems; Broadcom leads development, manufacturing, and networking, using its Ethernet stack. ^[12]
Deployment of these racks is expected to start in the second half of 2026 and run through 2029, making this one of the largest AI‑infrastructure projects announced to date. ^[13]

The OpenAI deal helped trigger a double‑digit percentage jump in AVGO’s share price when it was announced, as markets read it as validation of Broadcom’s role as a go‑to partner for hyperscale AI deployments. ^[14]

While meaningful revenue from this contract won’t show up until 2026 and beyond, it reinforces the long‑term growth story that investors are currently willing to pay up for.

A mysterious $10 billion AI order — likely Anthropic?

Earlier this year, Broadcom disclosed a $10 billion AI chip order from an unnamed customer. Recent reporting suggests that: ^[15]

Mizuho Securities raised its price target on AVGO to $435, arguing that Anthropic — a leading AI model company — is likely the “mystery” customer.
The order is tied to specialized AI server racks and is expected to ramp in the second half of fiscal 2026.

Put together with the OpenAI partnership, these deals position Broadcom as one of the key suppliers of custom AI accelerators to multiple frontier‑model players, not just a secondary beneficiary of Nvidia’s ecosystem.

The VMware Effect: Software Growth vs. Customer Backlash

Broadcom’s story isn’t just about chips. The VMware acquisition and subsequent integration into Broadcom’s infrastructure software segment is another major driver of both earnings and risk.

Revenue boost from VMware and private‑cloud strategy

On Broadcom’s Q3 call, CEO Hock Tan described the company entering the “second phase” of VMware consolidation: ^[16]

Over 90% of VMware’s 10,000 largest customers have moved from perpetual licenses to the VMware Cloud Foundation (VCF) subscription bundle.
Infrastructure software (including VMware) produced $6.8 billion in Q3 revenue, up 17% YoY and representing roughly 43% of total revenue. ^[17]
Management’s goal for the next two years is to help these customers actually deploy and operate private‑cloud environments on‑prem, not just sell licenses.

This shift supports Broadcom’s recurring‑revenue base and margins, which investors tend to reward with higher multiples.

Customer frustration and ecosystem risks

The other side of VMware under Broadcom is far less friendly:

Reports highlight massive price increases — in some cases up to 1,500% — for VMware customers in Europeas Broadcom pushes bundled subscriptions. ^[18]
Broadcom has clamped down on perpetual‑license customers, including legal pressure on organizations using patches and updates after support expirations. ^[19]
Commentary from VMware’s long‑time community points to severe trust erosion and describes some customers as feeling more like “hostages” than partners. ^[20]

In the near term, the VMware strategy is clearly boosting revenue and software margins. Over the medium term, however, customer churn, regulatory scrutiny, and competitive openings for rivals like Nutanix could become headwinds if the backlash deepens. ^[21]

For Monday’s session, VMware is less about immediate numbers and more about how much software‑related risk investors are willing to ignore while the AI side is booming.

What Wall Street and Big Money Are Saying About AVGO

Analyst ratings: overwhelmingly bullish, with rising targets

Across major research platforms, AVGO currently carries a consensus “Buy” / “Strong Buy” rating:

MarketBeat data shows three “Strong Buy,” twenty‑nine “Buy” and only two “Hold” ratings, with an average price target around $372.52 — roughly 9% above Friday’s close. ^[22]
Recent target moves include:
- KeyCorp: price objective lifted to $460, “Overweight/Buy” ^[23]
- Bernstein & Deutsche Bank: targets around $400, both with “Outperform/Buy” stances ^[24]
- Citi: reiterated “Buy” with a $415 target, citing Broadcom as one of the best AI infrastructure plays. ^[25]
Bank of America also reaffirmed a Buy rating, emphasizing a multi‑year AI spending cycle in which Broadcom is “exceptionally positioned.” ^[26]

Jefferies recently highlighted AVGO as a “Top Pick” AI stock at an inflection point, noting the stock’s near‑52‑week‑high performance and strong multi‑month momentum despite short‑term pullbacks. ^[27]

Billionaire & institutional interest

AVGO is also heavily owned by institutions and favored by high‑profile investors:

Institutional ownership is reported around 76%, with numerous funds adding to positions in recent quarters. ^[28]
Recent disclosures show new or increased stakes from firms like Kelleher Financial Advisors, Wealth Alliance and several others. ^[29]
A fresh Motley Fool piece notes that Broadcom is increasingly popular among billionaire investors, pointing to more than $200 billion in institutional inflows across a recent period. ^[30]

In short, the “smart money” isn’t rotating out of AVGO yet — but that also means expectations are high and the trade is crowded.

Media sentiment: “AI winner” but not a cheap one

Recent coverage frames Broadcom as:

A potential millionaire‑maker stock thanks to its central role in AI infrastructure and long history of execution; multiple articles argue the stock could still be attractive for long‑term investors despite the huge run. ^[31]
A top dividend‑growth candidate likely to raise its payout again by the end of 2025, supported by almost $25 billion in trailing 12‑month free cash flow. ^[32]
But also a stock that has risen about 100–110% over the past year, prompting some commentators (including Zacks and Simply Wall St) to openly ask whether Broadcom is now overvalued or priced for perfection. ^[33]

That mix — enthusiastic but increasingly valuation‑aware — is important context for Monday’s trading.

Is AVGO Overvalued? A Quick Valuation Check

Valuation is one of the clearest tension points going into November 17.

Relative and intrinsic valuation signals

Key points from recent analyses:

Simply Wall St’s DCF model estimates fair value around $298.67 per share, roughly 15% below the current price, and gives Broadcom 0/6 on its undervaluation checks, labeling the stock “overvalued.” ^[34]
The site also calculates a P/E ratio around 86x, versus an industry average near 35x and a customized “fair” P/E closer to 67x for Broadcom given its growth and risk profile. ^[35]
MarketBeat and StockAnalysis show similar lofty trailing P/E ratios in the mid‑80s to high‑80s, with a forward P/E in the low‑40s — high, but more defensible if EPS continues to compound rapidly. ^[36]

Even more conservative data providers that calculate P/E differently still show a multiple far above the market and most chip peers. ^[37]

What this means for Monday’s session

Going into the open:

The bull case is that AVGO’s AI pipeline (OpenAI, the $10B mega‑order, custom accelerators, data‑center networking) plus VMware’s recurring software revenue justify a premium multiple.
The bear case is that any wobble — whether in AI capex, VMware customer retention, or macro conditions — could trigger multiple compression, even if earnings stay strong.

On a short‑term trading horizon, that usually translates to higher volatility around headlines and sector moves, especially with AI valuations already stretched.

Dividend and Q4 Earnings: Catalysts in the Near Future

Q4 FY2025 earnings on December 11

Broadcom’s next major date is its Q4 FY2025 earnings release, currently scheduled for Thursday, December 11, 2025, after the market close, with a conference call at 5:00 p.m. ET. ^[38]

MarketBeat and other aggregators currently list:

Consensus EPS estimate: about $1.66
Revenue expectation: broadly consistent with Broadcom’s own $17.4 billion guidance. ^[39]

Traders on Monday may already start positioning ahead of that event, especially in options.

Possible December dividend hike

Broadcom has a 15‑year dividend‑increase streak, and its quarterly payout has held at $0.59 per share for four straight quarters. ^[40]

A recent dividend‑focused analysis notes:

Broadcom’s last twelve months of free cash flow are just under $25 billion. ^[41]
Since 2021, the company has never gone more than four quarters without raising its dividend.
Based on recent growth rates, a double‑digit dividend increase in December 2025 is considered likely by that analyst, potentially to around $0.67 per share. ^[42]

That makes the upcoming Q4 report a dual catalyst: earnings + potential dividend hike. Any chatter around this could show up in AVGO’s tape as early as this week.

AI Sector Backdrop: Nvidia Earnings on November 19

AVGO doesn’t trade in a vacuum. The entire AI‑chip complex is bracing for Nvidia’s Q3 FY2026 earnings, scheduled for Wednesday, November 19, 2025, after the close. ^[43]

Analysts widely expect Nvidia to report another blockbuster quarter, and recent commentary suggests Wall Street might be underestimating its growth even after a huge move in the stock. ^[44]

For AVGO on Monday, that means:

Any change in sentiment toward AI data‑center spending ahead of NVDA’s results could move Broadcom as well.
If investors anticipate a beat and raise from Nvidia, AI peers like AVGO may see sympathy buying.
Conversely, growing concern about an “AI bubble” could pressure high‑multiple names even before NVDA reports.

In other words, sector‑level headlines may matter as much as AVGO‑specific news early in the week.

Layoffs and Restructuring: A Risk Worth Watching

Just weeks after announcing the OpenAI deal, Broadcom has also been in the news for layoffs and restructuring:

Business Insider reported that Broadcom cut staff primarily in sales, customer success, account management and solutions roles, describing the move as part of rolling workforce reductions, including at VMware, whose workforce has reportedly been roughly halved since the acquisition. ^[45]
A state filing in California shows Broadcom is laying off 247 employees at its Palo Alto office, effective December 19, 2025 — again, just days after the OpenAI deal was announced. ^[46]

These cuts underscore:

Broadcom’s willingness to reshape its cost structure aggressively, even while expanding AI investments.
The cultural and reputational risk of being seen as ruthless with both customers (VMware pricing) and employees, which could have long‑term implications for talent retention and ecosystem loyalty.

In the near term, markets often interpret such layoffs as margin‑supportive, but they also add noise to the story right before key catalysts.

Key Things to Watch in AVGO Before the November 17 Open

Putting it all together, here are the main threads to keep in mind as AVGO trades into Monday’s open:

Valuation vs. growth
- The stock is priced for sustained AI hyper‑growth and successful VMware integration. Any hint that growth is slowing, or that AI capex might moderate, could hit sentiment hard.
AI pipeline credibility
- The OpenAI 10‑GW partnership and the suspected Anthropic $10B order are long‑dated but powerful supports for the bull case. Watch for any additional commentary, clarifications, or competitor moves.
VMware churn and customer mood
- Revenue from VMware is strong today, but backlash over price hikes and licensing changes is real. News of large customers leaving, legal actions, or regulatory scrutiny could weigh on the stock.
Institutional flows and analyst commentary
- With institutions owning more than three‑quarters of the float and Wall Street nearly unanimous on “Buy,” sentiment can shift quickly if a few big players turn cautious.
Sector moves around Nvidia’s earnings
- As NVDA approaches its November 19 report, any pre‑earnings volatility in AI leaders can spill over into AVGO, even without new Broadcom‑specific news.
Approaching Q4 earnings and dividend decision
- The December 11 report, plus the likelihood of a dividend increase, are major near‑term events. Traders may start setting up for those catalysts as early as this week.

Bottom line:
Before the market opens on November 17, 2025, AVGO sits at the crossroads of huge AI opportunity and elevated expectations. The fundamentals — record AI revenue, long‑term custom chip deals, and expanding software margins — are undeniably strong. But with the stock already up dramatically and trading at a premium valuation, volatility around headlines, sector moves and macro sentiment is likely to remain high.

This article is for information and news purposes only and should not be taken as financial advice. Consider your own objectives, risk tolerance and time horizon before making any investment decisions.

IS AVGO THE NEXT NVIDIA? NANCY PELOSI BUYS AVGO (BROADCOM STOCK) #avgo #stockmarket #stockstobuy