Broadcom shares rose as much as 4.7% during Monday morning trading.
Bernstein analyst Stacy A. Rasgon reiterated an outperform rating on the semiconductor giant. Rasgon described Broadcom’s valuation as absurdly attractive due to persistent artificial intelligence demand. The analyst noted that AI demand shows no signs of slowing.
The firm projects Broadcom’s per-share profit could reach $20 or more by 2027. This forecast represents significant growth compared to the $5.12 per share earned over the past year.