BofA analyst Vivek Arya raised the firm’s price target on Broadcom (AVGO) to $460 from $400 and keeps a Buy rating on the shares. Following the successful launch of Gemini 3 trained 100% on the TPU and potential future rent-out of TPUs to external Google (GOOGL) customers, the firm views rising TPU leverage as a positive for its key design partner Broadcom, the analyst tells investors. The current 2M units in calendar year 2025 is likely to expand to 3M-plus units in calendar 2026, with upside toward 3.6M-3.8M units based on supplies if demand continues to expand, the analyst added.
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