Why JPMorgan Calls Broadcom (AVGO) Stock an 'Aggressive Buy' Right Now

Broadcom’s Google AI chip contract takes on new weight as JPMorgan defends stock

Broadcom shares slid to $396.72 midday Monday, down $14.63, as investors weighed JPMorgan’s defense of its Google AI chip program against concerns over customer concentration and a broader reset in high-valuation AI infrastructure stocks, despite Broadcom forecasting over 200% AI semiconductor revenue growth for Q3 and securing multi-year supply deals with Google and Anthropic. The post Broadcom’s Google AI chip contract takes on new weight as J…

Why JPMorgan Calls Broadcom (AVGO) Stock an 'Aggressive Buy' Right Now

Key Takeaways AI semiconductor sales reached $10.8 billion during Q2 fiscal 2026, representing 143% year-over-year expansion Company projects $16 billion in AI semiconductor sales for Q3, signaling over 200% annual growth Total Q2 revenue surged 48% to an all-time high of $22.2 billion, while free cash flow jumped 60% to $10.3 billion Shares trade at approximately 68x earnings compared to Nvidia’s ~32x, with Wall Street maintaining a Moderate B…