Movement Alert｜Broadcom Rises 3.04% in Regular Trading, Multiple Institutions Raise Target Prices Amid Continued Chip Sector Strength

Market Focus03:06

On July 22, Broadcom rose 3.04% in regular trading, trading at $398.20/share, with turnover of $3.412 billion. The stock benefited from multiple analyst upgrades and bullish AI semiconductor demand forecasts that lifted the broader chip sector.

On the news front, Arete raised its target price on Broadcom from $488 to $530 while maintaining a buy rating. Earlier, BNP Paribas also lifted its target from $640 to $675, maintaining an outperform rating. The current consensus analyst target price stands at $527.73, implying over 30% upside from the current price. Morgan Stanley has also reiterated its overweight rating with a $502 target, defining Broadcom as the core AI winner second only to NVIDIA and dismissing concerns that MediaTek would significantly erode Broadcom's Google TPU business share.

Additionally, SK Hynix Chairman stated that AI semiconductor demand is expected to grow 60% to 100% year-over-year next year, with the supply-demand gap set to widen further as major manufacturers have virtually no substantial capacity expansion plans. Within the sector, NVIDIA rose 3.24% and AMD gained 2.32%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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