markets

Luke Kawa3/7/25

Bank of America boosts Broadcom price target on growing list of hyperscaler customers

Bank of America is responding to Broadcom’s earnings beat and rosy guidance by raising its price target and estimates on the stock.

Analysts led by Vivek Arya lifted their earnings per share forecasts for the current year and the next two while boosting their price target to $260 from $250, which implies upside of about 35% for the shares.

“AVGO’s outperformance comes as a refreshing change after more contentious EPS calls from peers,” Arya & Co wrote. “We see a rising tide and expect ASICs [customized advanced chips] to command a 10-15% share in a $400-$500 billion long-term addressable opportunity.”

The chip designer is one of BofA’s top five picks in semis, along with Nvidia, Lam Research, Analog Devices, and Marvell Technology (which, like Broadcom, sells a lot of customized advanced chips, and got slammed this week after posting lukewarm earnings).

Broadcom’s ability to gain traction with new, large customers is bolstering the team’s confidence in the company.

“On top of existing three custom silicon customers (shipping today) and two potential customers currently in discussion (on track to tape out their XPUs this year), AVGO announced it is engaged with two additional customers, bringing total engagements to seven,” they added. “Every customer is a hyperscaler with a large enough internal installed base to potentially deploy 1 million plus XPU clusters for developing its own frontier model.”

Most analysts, for the record, feel optimistic about Broadcom as well, with the average price target sitting at $253. Per Bloomberg, 90% of the sell side that cover the name rate it a buy, while 10% deem it a hold.

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Meet the newly public, Bezos-backed company that’s recreating the sun and stars

General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

Web Summit Vancouver 2026 - Day Three

markets

J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

Floridians Seek Employment Opportunities At Job Fair In Sunrise

Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

markets

Paige Oamek6/30/26

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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