Broadcom raises AI sales forecast as stock lingers 29% below its high

Broadcom just posted an 86% jump in quarterly revenue and tripled its AI chip sales. The stock fell anyway.

The semiconductor giant reported fiscal Q3 2026 revenue of $29.59 billion, with AI semiconductor revenue alone hitting $16.7 billion, a 221% increase year-over-year. The company raised its full-year AI revenue forecast to $58 billion from $56 billion and laid out projections that would make most CFOs sweat through their collar: $115 billion in AI chip revenue for fiscal 2027 and $230 billion for fiscal 2028.

And yet, shares are trading around $353, roughly 29% below their 52-week high of $495 and up a modest 6% on the year.

The culprit for the post-earnings dip was Broadcom’s Q4 fiscal 2026 revenue guidance of approximately $34.8 billion, which landed slightly below what some analysts had penciled in. In a market that prices stocks on forward expectations rather than backward triumphs, “slightly below” is all it takes to trigger a sell-the-news reaction.

That said, the Q4 guide…