Broadcom’s post-earnings romp continues on heavy volumes
As Broadcom enjoys a rush of new orders from a major new customer (reported to be OpenAI), it’s also reveling in a flood of traffic into the stock.
Volumes are running at 2.5x their daily average through 1:20 p.m. ET as traders continue to bid up shares in response to the brighter outlook for 2026 revenues, which sent the stock up 9.4% on Friday.
The chip designer is basking in a flood of price target hikes from Wall Street, with Bank of America, JPMorgan, Argus Research, Citigroup, Bernstein, Deutsche Bank, Morgan Stanley, Barclays, Piper Sandler, Rosenblatt Securities, Wells Fargo, and Susquehanna all upping their view on how high shares can go since the company reported earnings last week.
Separately, Taiwanese industry outlet DigiTimes is reporting that orders from several other leading tech companies for custom-made Broadcom chips (or ASICs) are “already in the pipeline.” This report has not been corroborated by our own or any other publication’s reporting to date.
