New York, Jan 11, 2026, 10:01 EST — The market has closed.
- Shares of Broadcom rose 3.76% on Friday, closing at $344.97 after slipping the day before.
- A Mizuho analyst boosted his price target for Broadcom to $480, maintaining an Outperform rating.
- Tuesday’s U.S. CPI report and the initial batch of earnings are now in investors’ sights for clues on market direction.
Broadcom (AVGO) shares climbed 3.76% Friday, closing at $344.97 after dropping 3.21% the previous session. The chip stock bounced back in a weekend rally, trading between $333.50 and $347.39 with roughly 22.5 million shares changing hands. 1
Broadcom’s rally helped push the S&P 500 to a fresh high, with chip stocks leading the charge as investors doubled down on the AI theme. The PHLX semiconductor index surged 2.7%, hitting a new peak. Meanwhile, a softer-than-expected U.S. jobs report failed to dent hopes for Fed rate cuts later this year. The Supreme Court also held off on ruling the legality of President Donald Trump’s tariffs, leaving another big macro question unresolved. “Investors are getting granular and picking the winners and losers,” said Zachary Hill, head of portfolio management at Horizon Investments. 2
That combination puts Broadcom right back where it’s often seen: a big, liquid chip stock tied to AI that traders watch closely as a gauge of risk appetite — and sometimes use to hedge it. With the market shut on Sunday, the next real test arrives when cash trading kicks off Monday.
Fresh analyst updates helped spark the late-week rally. Vijay Rakesh at Mizuho lifted his price target on Broadcom to $480 from $450, keeping an Outperform rating that suggests the stock will outperform the market. His bullish stance fits into a wider 2026 semiconductor outlook. Rakesh highlighted “attractive valuations,” though he cautioned upside might be less dramatic than last year’s surge. 3
Separately, Broadcom’s infrastructure group president, Ram Velaga, submitted an initial beneficial ownership statement as an officer. The filing details his holdings in common stock alongside performance stock units, which vest only if certain share-price targets are met. 4
The broader market keeps shuffling. Nathan Peterson at Charles Schwab noted, “It appears 2026 will be a ‘stock pickers’ market,’” pointing out that the chip index’s recent peak owes more to gains in equipment and memory stocks than the typical 2025 frontrunners like Broadcom. 5
Inflation takes center stage this week. The U.S. Consumer Price Index (CPI) drops Tuesday, Jan. 13, with retail sales and the Producer Price Index (PPI) following later. Fed officials are also scheduled to speak throughout the week. These data points are key for semiconductors, as chip stocks often move like rate-sensitive plays when bond yields shift. 6
Earnings season is heating up as major U.S. banks prepare to start reporting. Taiwan Semiconductor is set to release its results Thursday, a key indicator for chip demand and supply that often influences U.S.-listed counterparts. 7
For Broadcom, all eyes are on whether Friday’s climb above the mid-$340s sticks and if buying interest expands past the usual AI favorites. Analyst updates could also move the needle, given the stock’s recent moves have been driven more by expectations than actual news.
But the setup works both ways. A hotter CPI print might drive yields higher, putting pressure on richly valued tech and chip stocks. The unresolved tariff situation can also trigger rapid risk repricing if new policy headlines emerge. Even within AI, investors have shown they’re quick to pivot when margins or demand assumptions change.
Traders are zeroing in on Tuesday’s CPI report, due Jan. 13, and TSMC’s earnings due Jan. 15. They want to see if the chip rally that pushed Broadcom higher into Friday’s close can keep its momentum when U.S. markets open again.
