What's Going On With Broadcom Stock Tuesday?
Broadcom Inc. (NASDAQ: AVGO ) stock rose nearly 1% in Tuesday’s premarket session as semiconductor and artificial intelligence stocks traded higher. Nasdaq futures gained 0.23%, while S&P 500 futures rose 0.11%. The stock received fresh support from Jefferies, which said the recent pullback has created a buying opportunity as visibility into future AI chip demand improves. Jefferies Sees Long-Term AI Upside Jefferies reiterated its Buy rating and maintained a $550 price forecast on Broadcom. The firm cited improving visibility into calendar 2028, steady progress on Broadcom’s TPU roadmap and an expanding customer base for its custom AI chip business. The firm said the recent decline in Broadcom shares has created an attractive entry point for investors. Jefferies expects Broadcom’s TPU 8i to enter production in the third quarter of 2026. It also highlighted Broadcom&...
Broadcom Inc. (NASDAQ: AVGO ) stock rose nearly 1% in Tuesday’s premarket session as semiconductor and artificial intelligence stocks traded higher. 11%. The stock received fresh support from Jefferies, which said the recent pullback has created a buying opportunity as visibility into future AI chip demand improves.
Jefferies Sees Long-Term AI Upside Jefferies reiterated its Buy rating and maintained a $550 price forecast on Broadcom. The firm cited improving visibility into calendar 2028, steady progress on Broadcom’s TPU roadmap and an expanding customer base for its custom AI chip business. The firm said the recent decline in Broadcom shares has created an attractive entry point for investors. Jefferies expects Broadcom’s TPU 8i to enter production in the third quarter of 2026.
’s (NASDAQ: GOOGL ) Google covering future TPU generations through 2031. The agreement includes minimum revenue commitments and could generate more than $500 billion over time. The firm also pointed to Broadcom’s first artificial intelligence processor for OpenAI, code-named Jalapeno. Jefferies estimates the chip could deliver about 50% lower costs and 40% lower power consumption than NVIDIA’s Blackwell platform, supporting Broadcom’s strategy to expand its custom AI chip business beyond Google.
44. Those levels point to continued near-term weakness. 33. That suggests longer-term buyers are still defending the broader trend.
Momentum indicators also remain cautious. The moving average convergence divergence, or MACD, is below its signal line and the histogram remains negative, indicating bullish momentum has weakened. The moving averages present a mixed picture. The 20-day SMA sits below the 50-day SMA, a bearish short-term signal.
Meanwhile, the 50-day SMA remains above the 200-day SMA following April’s golden cross, preserving the longer-term bullish structure. 66, although it is below its June high of $495. The current pullback still appears consistent with a broader consolidation rather than a complete trend reversal. 50, close to the 50-day SMA.
50 near the 100-day SMA. Analysts Remain Bullish Ahead Of Earnings Broadcom is expected to report earnings around Sept. 3. 95 billion a year earlier.
68. Recent analyst actions include UBS lowering its price forecast to $485 while maintaining Buy. Bank of America Securities and Mizuho both raised their price forecasts to $530 and maintained bullish ratings. 22 on Edge.
25, reflecting its premium valuation. Broadcom is also a top holding in several technology exchange-traded funds, including the First Trust NASDAQ Cybersecurity ETF (NASDAQ: CIBR ), the iShares Expanded Tech Sector ETF (NYSE: IGM ) and the First Trust NASDAQ Technology Dividend Index Fund (NASDAQ: TDIV ). 33 during premarket trading on Tuesday, according to Pro data. Photo via Shutterstock Read Also: What Is Going On With Super Micro Stock On Tuesday?