Wells Fargo Upgrades Broadcom Stock as New AI Catalysts Create Buying Opportunity

• 1- Year Price Change for Broadcom stock: 50.4%
• $AVGO Share Price as of Jan. 15: $344
• 52-Week High: $414
• $AVGO Share Price Target: $456

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What Happened?

Broadcom (AVGO) stock jumped 2.6% on Thursday after Wells Fargo upgraded the chipmaker to “Overweight” from “Equal-weight”, raising its price target to $430 from $410.

The upgrade comes at a critical time, as AVGO stock had fallen more than 17% from its recent highs following concerns about AI spending and China’s recent ban on VMware cybersecurity software.

Wells Fargo says concerns about Broadcom’s gross margins are “overdone.” The firm now sees major growth drivers that could push the stock higher, including Broadcom’s partnership with Google on TPU chips and massive AI infrastructure orders.

• Wells Fargo raised its 2026 revenue forecast for AVGO stock to $100.3…