Broadcom Stock Is Rising — Mizuho Bets Big on AI Boom Ahead of Earnings

This article first appeared on GuruFocus.

Broadcom (NASDAQ:AVGO) shares climbed about 2% on Thursday morning trade as Mizuho highlighted the chipmaker’s growing AI opportunities ahead of next week’s earnings.

Analyst Vijay Rakesh maintained an Outperform rating with a $435 price target, noting Broadcom (NASDAQ:AVGO) is positioned to benefit from Google’s Gemini 3 ramp and wider TPU adoption by major AI developers including Alphabet (NASDAQ:GOOGL), Meta (NASDAQ:META) and Apple (NASDAQ:AAPL).

Mizuho said Broadcom’s (NASDAQ:AVGO) TPUv7p and TPUv8p chips, with estimated average selling prices of $10,000 and $15,000, could drive significant revenue upside. Networking catalysts, including the Tomahawk 6-Davisson switch and Thor Ultra 800G NIC, were also cited as strengths for the company’s growth.

For fiscal 2026, Mizuho projects Broadcom (NASDAQ:AVGO) revenue of $86.9 billion, EPS of $9.34, and AI-related revenue of $41.1 billion, all above Street estimates. Revenue…