By Ghazal Ahmed
Publication Date: 2026-06-08 12:49:00
Broadcom Inc. (NASDAQ:AVGO) is one of the
14 AI Stocks Making Headlines on Wall Street: Qualcomm, Microsoft, and More.
On June 2, HSBC analyst Frank Lee raised the price target on Broadcom Inc. (NASDAQ:AVGO) to $600.00 (from $450.00) while maintaining a Buy rating. The bullish case for Broadcom is based on its ASIC revenue growth, noting how concerns about losing Google’s business seem largely overdone.
Several major customer wins are anticipated to strengthen the company’s ASIC revenue momentum, particularly from the second half of F2026. Broadcom is set to supply Google’s TPU v7, which will likely carry a higher ASP than v6. Moreover, Meta is also ramping its ASIC, noted HSBC.
Besides these names, Anthropic and OpenAI have also been added by AVGO under a multi-year GW deployment agreements, set to start in FY26 and FY27 respectively.
“Therefore, we expect momentum for ASIC revenue to start materially ramping through 2H FY26 into FY27 and beyond. We believe…
