Bank of America resets Broadcom stock price target after earnings

Broadcom (AVGO) stock closed the June 4 trading session down 12.59% at $418.91. The stock took a tumble following the release of the second-quarter (Q2) fiscal year 2026 (FY26) earnings report on June 3, and lost about $280 billion in market value, according to Yahoo Finance.

The stock is up 21.04% year to date, as of Friday morning, June 5. Meanwhile, the SPDR S&P 500 index (SPY) is up about 11.02% in the same period.

The fabless semiconductor giant and enterprise software infrastructure vendor has outpaced the S&P 500, thanks to its participation in the broader semiconductor rally driven by the AI boom.

Positive news driving Broadcom’s stock includes:

Analysts have been resetting their price targets just before earnings, as the expectations were high. Now that the earnings have dropped, Bank of America has raised its price target.

Key facts from Broadcom’s Q2…