By Anusuya Lahiri
Publication Date: 2026-05-18 12:31:00
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Wells Fargo analyst Aaron Rakers turned more bullish on Broadcom Inc, arguing that Wall Street may still be underestimating the scale of AI infrastructure demand tied to hyperscaler data center expansion.
Wells Fargo Raises Broadcom Forecast To $545
Rakers maintained an Overweight rating on Broadcom and raised his price forecast to $545 from $430.
The upgrade followed a new Wells Fargo framework that links AI semiconductor demand directly to physical data center power capacity rather than relying on traditional market-sizing models.
Broadcom shares rose about 5% to $438 after the analyst call.
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Rakers Sees AI Demand Running Above Consensus
Rakers said the firm’s new “pluggable gigawatt-driven” model suggests AI semiconductor revenue is tracking 30% to 40% above prior Wall Street expectations.
The framework incorporates demand from large…
