By Anusuya Lahiri
Publication Date: 2026-01-26 16:22:00
JPMorgan analyst Harlan Sur said Broadcom Inc’s (NASDAQ:AVGO) long lead in custom artificial intelligence (AI) chips is helping its AI Application-Specific Integrated Circuit (ASIC) outlook accelerate into fiscal 2026 and fiscal 2027, with Alphabet Inc (NASDAQ:GOOGL) Google as the key driver.
Broadcom Extends Its Lead Over Customer-Led Chip Programs
Sur maintained an Overweight rating on Broadcom and a price forecast of $475.
The analyst said Broadcom has an 18-month-plus head start over internal customer-owned tooling efforts, in which customers handle about 90% of the design work.
He pointed to Google’s 3nm Zebrafish program as an example, saying it has faced repeated delays and may not produce first silicon until the end of this quarter or early next quarter.
Sur contrasted that with Broadcom’s next-gen 3nm Tensor Processing Unit (TPU), code-named Sunfish, which he said Google evaluated and qualified earlier, giving Broadcom a meaningful timing advantage.
Sur said Google is seeing…
