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<Research> Citi Raises Broadcom Inc. (AVGO.US) TP to USD500, Maintains Buy
Citi issued a report stating that Broadcom Inc. (AVGO.US) will announce its April-quarter results (fiscal 2Q26) on June 3. The bank expects revenue and EPS for fiscal 2Q26 and fisc...
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<Research> Citi Raises Broadcom Inc. (AVGO.US) TP to USD500, Maintains Buy
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Citi issued a report stating that Broadcom Inc. (AVGO.US)      will announce its April-quarter results (fiscal 2Q26) on June 3. The bank expects revenue and EPS for fiscal 2Q26 and fiscal 3Q26 to come in slightly above market consensus, mainly driven by strong AI demand. It estimates that the contribution from AI revenue will rise significantly from the current approximately 49% to about 81% by fiscal 4Q28. Supported by higher-than-expected TPU shipments, the bank revised its fiscal 2026, 2027 and 2028 EPS forecasts by -4%, +5% and +34%, respectively.

Citi forecasts that combined AI-related sales from Google and Anthropic will reach approximately USD80 billion in 2027. Broadcoms overall AI revenue is expected to exceed its previous projection of USD100 billion, reaching about USD115 billion, and further increasing to USD180 billion in 2028.

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Citi raised its TP for Broadcom to USD500 from USD475, maintained its Buy rating, and reiterated the stock as its top pick in the semiconductor sector for 2026.
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