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Broadcom’s AI Revenue Surges 106% in Q1, Morgan Stanley Raises Price Target

Broadcom’s AI Revenue Surges 106% in Q1, Morgan Stanley Raises Price Target

Author:

Global Cryptocurrency

Published:

2026-03-08 15:07:02

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Broadcom reported record Q1 revenue of $19.3 billion, a 29% year-over-year increase, with AI revenue skyrocketing 106% to $8.4 billion. The company's Q2 guidance projects $22 billion in total revenue, including $14.8 billion from AI, signaling robust growth in the sector.

Morgan Stanley lifted its price target to $470 from $462, maintaining an Overweight rating. Analysts now forecast Broadcom could reach $120 billion in AI revenue by fiscal 2027, driven by strong performance in custom AI ASICs and networking products.

The stock closed 4.8% higher post-earnings but remains down year-to-date. Semiconductor solutions revenue grew 52%, with AI networking poised for acceleration in Q2 through Tomahawk Ethernet switches and SerDes products.

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