New York, January 31, 2026, 09:50 EST — Market closed.
- On Friday, Broadcom shares ended the day at $331.30, gaining 0.17%.
- Wolfe Research raised Broadcom to Outperform, setting a $400 price target and highlighting momentum from Google TPU.
- Coming next: U.S. jobs data on Feb. 6, followed by Broadcom’s earnings report expected March 5.
Broadcom shares closed Friday slightly higher, up 0.17% to $331.30. Wolfe Research raised its rating to Outperform and slapped on a $400 price target, citing increased confidence in Google’s Tensor Processing Unit program. (StockAnalysis)
The call comes as chip investors wrestle with sorting “AI demand” from factors like rising rates, patchy tech earnings, and a sector known for swift reversals. The Philadelphia Semiconductor Index dropped 3.87% on Friday, underscoring how the tape can still hit the group hard despite a solid long-term outlook. (Investing)
U.S. stocks slipped on Friday as investors digested President Donald Trump’s choice of former Federal Reserve governor Kevin Warsh to replace Fed chair Jerome Powell. Earnings reports and inflation cues also influenced trading. “Markets are calibrating to Trump’s pick of Kevin Warsh … and the outlook for monetary policy,” said Michael Hans, chief investment officer at Citizens Wealth. (Reuters)
Wolfe analyst Chris Caso, in a note reported by TheFly, indicated that channel checks point to Broadcom potentially shipping around 7 million tensor processing units by 2028. He added that other projects are “creating optionality for numbers.” The note emphasized, “We can no longer ignore” Broadcom’s growth and competitiveness in TPUs. (TipRanks)
A TPU is a chip specifically built to speed up artificial intelligence tasks. It falls under the category of “ASIC,” or application-specific integrated circuit — meaning it’s tailored for a limited range of functions rather than being a general-purpose GPU.
Broadcom held steady, setting itself apart from other major chipmakers. NVIDIA dropped 0.72% Friday, Qualcomm slid 0.41%, yet Broadcom closed higher, MarketWatch data shows. (MarketWatch)
Monday’s session will hinge on whether the upgrade sparks renewed buying in a market that has quickly shrugged off AI-driven rallies amid shifting rates and risk appetite. Broadcom, a major player in semiconductors and infrastructure software, often sets the tone for chip sector sentiment when its shares move.
Macro data is also on the radar. The upcoming U.S. Employment Situation report, the monthly jobs snapshot that frequently shifts rate forecasts, is set for Feb. 6 at 8:30 a.m. ET, according to the Bureau of Labor Statistics schedule. (Bureau of Labor Statistics)
Investors are also eyeing Broadcom’s upcoming earnings, expected March 5 according to Nasdaq’s calendar, though that date hasn’t been officially confirmed. Market watchers will focus on any shifts in commentary about demand for custom AI chips and the networking equipment that links data centers. (Nasdaq)
Still, the downside is straightforward: “channel checks” might fail to catch shifts in customer spending, and one big buyer could unexpectedly pull back on orders. Another surge in yields or a fresh selloff in high-multiple tech stocks could also limit any bounce from upgrades.
Monday’s reopening of U.S. stocks kicks off the next catalyst, with the February 6 jobs report close behind. For Broadcom bulls and bears, the real challenge will be if the narrative holds through to the company’s anticipated March 5 earnings release.
