Broadcom (AVGO) stock has risen 1.6% over the past week, slipped 8.9% over the past month, yet soared 105.6% over the last 12 months. Wall Street’s analysts are strongly bullish, forecasting a move toward a 12‑month price target of $471.74 from the last closing price of $314.43.
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Analyst Sebastien Naji reiterated a Buy on AVGO on April 7, 2026, setting a $314 price target that broadly aligns with current levels. His view underscores confidence in Broadcom’s long‑term prospects despite recent volatility.
Naji points to Broadcom’s fresh long‑term agreement with Google as a major driver of future growth. The deal includes design engagements for next‑generation TPUs through 2031 and a supply assurance agreement for networking and other components in Google’s next‑gen AI racks.
Broadcom’s Ethernet networking chips, such as its Jericho and Tomahawk lines, already power parts of Google’s AI and traditional data center networks. The partnership is further strengthened by an expanded relationship with Anthropic, which will tap roughly 3.5 GW of next‑generation TPU capacity starting in 2027.
Naji believes this new Anthropic demand could translate into about $12 billion in incremental revenue for Broadcom over time. At recent after‑hours levels near $324, he notes the shares trade around 26 times expected 2026 non‑GAAP earnings, supporting his view of attractive risk/reward as AI‑driven revenue accelerates. Never miss a stock rating. Find all the latest ratings on TipRanks’ Top Wall Street Analysts page.