JPMorgan Raises Broadcom Price Target to $475 on AI-Driven Growth
Broadcom's fourth-quarter earnings surpassed expectations, fueled by a 74% surge in AI semiconductor sales to $6.5 billion. The company now holds a $73 billion order backlog, with projections pointing to $8.2 billion in AI revenue by Q1 2026. JPMorgan elevated its price target to $475, citing Broadcom as its top semiconductor pick.
Fiscal 2025 AI revenue is anticipated to approach $20 billion, with long-term forecasts reaching $55-60 billion. Despite trading at a P/E ratio of 91.82—significantly higher than NVIDIA's 45.9x and the sector average of 33.6x—investors remain bullish on Broadcom's AI trajectory.