Broadcom (AVGO) shares are in focus after TD Cowen analyst Matthew Ramsay raised the price target to $500, citing the company’s dominance in custom AI compute silicon.
- The stock recently closed at $425.19 following a 3.32% decline, retracing gains made earlier in the week after the U.S. cleared select AI chip exports.
- The recent cooling reflects investor disappointment after a U.S.-China summit concluded without addressing broader semiconductor export restrictions.