This article first appeared on GuruFocus.
Sep 4 – Broadcom Inc. (NASDAQ:AVGO) reached a new milestone on Friday as its shares climbed to an all-time high of $338. That move lifted its market value to roughly $1.55 trillion, underscoring the company’s growing influence in the semiconductor sector. Over the past year, the stock has surged more than 147%, powered by strong demand for AI chips and steady revenue growth.
According to data, Broadcom generated about $60 billion in revenue during the past 12 months while maintaining gross margins above 77%. Year-over-year revenue growth came in at 28%, adding momentum to the rally.
Wall Street analysts remain upbeat, KeyBanc raised its price target to $400, Piper Sandler lifted its target to $375, Truist Securities moved to $365, and TD Cowen set $370. All highlighted Broadcom’s strong AI results and a $10 billion order from a new customer.
Meanwhile, Celestica (NYSE:CLS) shares also gained after BMO Capital Markets pointed to the company’s potential role as a supplier for OpenAI, citing its use of Broadcom silicon. Together, the developments showcase Broadcom’s expanding role in AI infrastructure and the continued confidence from analysts in its long-term strategy.