Wolfe Research upgraded Broadcom to Outperform, citing the company's continued exponential growth driven by its critical role as a supplier of custom silicon and networking switches for AI infrastructure.
- The bullish call is supported by projections that Broadcom's AI revenue is tracking toward $30 billion in 2026.
- This growth is underpinned by a significant $162 billion product backlog, solidifying its position in the rapidly expanding AI "plumbing" sector.