Broadcom is starting to “fire on all cylinders,” according to JPMorgan. The firm reiterated an overweight on the semiconductor stock on Wednesday, alongside a $325 per share price target. JPMorgan’s forecast calls for about 20% upside from Tuesday’s $271.80 close. Analyst Harlan Sur said a recent meeting with Broadcom executives where they disclosed strong artificial intelligence demand at the XPU business underpins JPMorgan’s bullish view. Executives also described “gradual recovery trends” in Broadcom’s businesses outside of AI, Sur said. AVGO YTD mountain Broadcom stock in 2025. “The team is seeing a gradual ‘U’ shape recovery in its non-AI semiconductor business, reflected in the bookings/order inflection the team is seeing now, which could contribute to the positive EPS revision cycle next year,” Sur said. Shares have advanced more than 17% in 2025. “We see Broadcom as a leader in wireless, data center networking, AI/deep learning ASICs, storage, and infrastructure silicon, hardware, software with broad-based exposure to positive trends in these end markets,” the analyst said. “Broadcom is a technology infrastructure powerhouse with unmatched scale and technology capabilities in the industry, securing its leadership positions in a diverse set of end markets,” the analyst added.
JPMorgan believes this chip stock is ‘firing on all cylinders’ after meeting with CEO
