Broadcom (AVGO) stock has surged 11.8% over the past week, 23.7% over the last month, and an impressive 129.0% in the past 12 months. Wall Street’s analysts are strongly bullish, with a StrongBuy consensus and a 12‑month average price target of $465.55 versus the last closing price of $396.72.
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Analyst Harlan Sur of J.P. Morgan reiterated his Buy rating on AVGO on April 15, 2026, setting a price target of $500, implying solid upside from current levels. His view is backed by Broadcom’s growing role as a key technology infrastructure player across wireless, data center networking, AI ASICs, storage, hardware, and software.
Sur points to Broadcom’s expanded partnerships with Google and Anthropic for custom TPU ASICs and networking, plus a new multi‑year, multi‑gigawatt strategic agreement with Meta. This Meta deal covers MTIA AI accelerator chips and associated networking through 2029 and reflects the rising importance of custom silicon in scaling AI data centers efficiently.
The Meta agreement alone includes an initial commitment of more than 1GW of deployment in 2027, which Sur estimates could translate into $12–$15 billion in revenue for Broadcom including networking. He believes this reinforces the potential for Broadcom to exceed $120 billion in AI revenues by fiscal 2027, driven by five MTIA ASIC programs ramping from 2026 through 2028.
Harlan Sur, a top-ranked analyst at #16 out of 12,147 on TipRanks, carries a 72.62% success rate and an average 35.9% return per rating, adding weight to his bullish stance that AVGO remains his top semiconductor pick. Never miss a stock rating. Find all the latest ratings on TipRanks’ Top Wall Street Analysts page.