5-star analyst resets Broadcom price target before earnings

Broadcom (AVGO) stock has gained almost 60% in the past year, at the time of writing, Tuesday morning, March 3, according to Yahoo Finance. Meanwhile, the SPDR S&P 500 index (SPY) is up about 15.52% in the same period.

A semiconductor giant with a vast product portfolio spanning wired infrastructure, wireless communications, enterprise storage, and industrial end markets has not only beaten the S&P 500 but also outpaced all but one Magnificent 7 member.

• Nvidia (NVDA) is up 46%

• Tesla (TSLA) is up 37.66%

• Apple (AAPL) is up 9.46%

• Microsoft (MSFT) is up 0.39%

• Amazon (AMZN) is down 1.83%

• Meta (META) is down 2.19%

The only exception is Alphabet (GOOGL), which is up 80%. The stocks being the biggest winners are thanks to their partnership. Broadcom helped Google build its TPUs. Release of Gemini 3, which was trained on Ironwood TPUs, caused OpenAI to declare “Code Red,” as reported by the Wall Street Journal.

Bank of America believes that Gemini will remain…