
AI semiconductor giant Broadcom (NASDAQ: AVGO) recently found its biggest bull on Wall Street yet. On June 24, analysts at HSBC issued a massive $400 price target on the stock. Compared to Broadcom’s July 9 closing price of just under $278, HSBC’s price target indicates that shares could rise by another 44%.
So, what is driving HSBC to issue such an optimistic target for a stock that just notched its all-time high closing price? How does the analysts' community feel about Broadcom generally, and how does this contrast with HSBC? Additionally, what are some of the risks facing Broadcom that investors need to be aware of?