Broadcom stock rebounds as 2026 opens, with Benchmark bulls clashing with Trefis bear case
Broadcom shares climbed about 3% Friday as U.S. tech stocks rebounded to start 2026. Benchmark raised its price target to $485, citing AI chip momentum, while Trefis flagged risks from VMware churn, customer concentration, and AI-driven margin pressure. Broadcom reported a $73 billion AI backlog and expects AI chip revenue to double, but warned gross margin will fall about one percentage point.