ASX:SKY 3 February 2026

June 11, 2026, 11:52 AM EDT. Wall Street shows strong bullish sentiment on Broadcom (NASDAQ:AVGO) with a consensus price target of $522, exceeding its 52-week high of $495 despite a 12% post-earnings selloff. Broadcom reported a record quarter with Q2 non-GAAP EPS of $2.44 and AI semiconductor revenue of $10.8 billion, guiding Q3 AI sales to $16 billion, up over 200% year-over-year. Institutional investors hold 80% of shares, indicating confidence, while retail interest remains muted. The stock trades at a high price-to-earnings ratio (P/E) of 66x trailing and 34x forward, amid margin pressure from AI chip mix shifts. CEO Hock Tan's forecast of AI revenue exceeding $100 billion in fiscal 2027 anchors the bullish outlook, contrasting with cautious margin dynamics and customer concentration risks.