Quick Read
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$AVGO sits well below its 52-week high, yet 49 analysts rate it Buy with an average $530 target implying 60% upside and zero Sells.
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Tan said $GOOGL's TPU 8i rivals $NVDA's Vera Rubin GPU, and OpenAI's Jalapeno chip runs frontier models at half the GPU cost.
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For all the headlines NVIDIA( NASDAQ:NVDA ) gets, Broadcom( NASDAQ:AVGO ) builds the custom chips that let the biggest AI labs skip the GPU. On Broadcom's September call, CEO Hock Tan said Alphabet( NASDAQ:GOOGL ) unit Google's new TPU version 8i is "comparable to, if not surpasses, the Vera Rubin GPU," and that OpenAI's Jalapeno chip runs frontier models "at half the cost of a GPU."
The stock has yet to reflect that story. At $331.68, shares are down 3.64% year to date and well below the 52-week high of $493.28. Over five years, they've returned 560.45%. I see 2027 as a comeback setup. Here's how Broadcom could hit $600 per share.
Wall Street Already Sees 60% Upside for Broadcom
The average 1-year analyst target is $530.14, meaning roughly 60% upside. Analysts carry 8 Strong Buy and 41 Buy ratings, 2 Holds and zero Sells.
Growth drives that optimism. Consensus calls for fiscal 2027 EPS of $19.4651, up about 67% from $11.6657 expected for fiscal 2026. Revenue is forecast to climb roughly 64% to $174.2 billion.
The fiscal 2027 EPS estimate has edged down over the past $19.5823 90 days. Still, Broadcom has beaten EPS estimates for nine consecutive quarters, most recently posting $3.32 against a $3.24 estimate, a track record that suggests results could top forecasts.
Here's What It Takes for Broadcom to Reach $600
Today, Broadcom trades at about 17x fiscal 2027 estimates. At $600, that rises to roughly 31x. That's a premium, yet reasonable for earnings growth near 67%, and below the trailing P/E of 41 the stock carries now.
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What Could Push Broadcom to $600?
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AI revenue doubling again:After guiding fiscal 2026 AI revenue to $58 billion, Tan said, "In 2027, we have secured the supply to again double AI revenue to approximately $115 billion."
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Deep customer roster:Anthropic is expected to deploy 5 gigawatts of TPU version 8i in 2027, and OpenAI plans 1.3 gigawatts of Jalapeno. Tan estimates Broadcom's content at $20 billion to $30 billion per gigawatt.
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Networking:Broadcom taped out Tomahawk 7, the industry's first 200-terabit-per-second Ethernet switch, and expects AI networking to grow as fast as XPUs.
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Financing:On October 26, 2026, four major banks and Blackstone( NYSE:BX ) announced a $63 billion structure to fund AI compute capacity with Broadcom.
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Near-term momentum:Q4 guidance calls for $34.8 billion in revenue, up 93%, with AI revenue up 236%.
Deployment timing is the key hurdle. Tan asked, "Even as we ship the chips, will they be deployed on a timely basis?" Customer concentration and a weak market would also make $600 harder.
Broadcom's History Says an 81% Gain Is Possible
Hitting $600 needs a gain of about 81%. Since 2010, Broadcom has cleared that bar in three calendar years: 93% in 2014, 104% in 2023 and 110% in 2024. It added 51% in 2025.
At its current size, repeating triple-digit years is harder, but the stock has rerated quickly when AI growth speeds up.
$600 Is a Stretch, but the Blueprint Is Clear
Hitting $600 would take an 81% gain. Analysts see 60% upside, earnings are projected to grow 67%, and management has secured supply for $115 billion in AI revenue. If the beat run continues and custom chips keep winning workloads from GPUs, the multiple has room to expand.
Oversized gains at this level shouldn't be expected every year, but we've outlined the plan for how Broadcom could see outsized returns in 2027. (We studied the early signs of past monster tech winners and turned them into a free playbook you can grab here: The Next Nvidia Playbook.)
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