Wells Fargo Just Hiked Broadcom Price Target to $545: AI Semi Revenue Running 30-40% Higher Than Expected

Wells Fargo just delivered one of the most dramatic large-cap semiconductor revisions of the year, raising its price target on Broadcom (NASDAQ:AVGO | AVGO Price Prediction) to $545 from $430 while maintaining an Overweight rating. The driver is a new “pluggable gigawatt-driven” framework that ties AI silicon demand to physical data center power capacity, implying AI semiconductor revenue is running 30% to 40% higher than prior consensus.

The firm also lifted its fiscal 2027 revenue and EPS estimates for Broadcom by 22% and 19% versus consensus, and its fiscal 2028 figures by 28% and 23%. Broadcom stock traded up 5% to $438 following the call.

The Analyst’s Case

Wells Fargo’s new model estimates AI chip demand based on hyperscaler power capacity…