Since reporting earnings on Dec. 11, investors have hit shares of semiconductor giant Broadcom (NASDAQ: AVGO) with a tidal wave of selling. On Dec. 17, Broadcom shares closed near $326. This marks an approximately 20% decline versus the stock’s pre-earnings level near $406.
Despite this, sell-side Wall Street analysts are doubling down. By and large, these forecasters significantly raised their Broadcom price targets after the company’s earnings release. Analyst reactions to Broadcom’s results reveal a mix of optimism and caution, especially when contrasted with another major AI company that recently reported earnings. All price target references reflect data tracked by MarketBeat.
