tech
January 21, 2026
Broadcom CEO told TD Cowen analysts there's insatiable demand for its chips
The investment bank reiterated its bullish $450 price target on Broadcom shares after hosting a meeting with the company's CEO.
TL;DR
- TD Cowen analysts reiterated a buy rating and $450 price target on Broadcom shares.
- Analysts met with Broadcom CEO Hock Tan and CFO Kristen Spears, who expressed confidence in growing demand for XPUs and networking components for AI infrastructure.
- Broadcom management stated that demand for its products is "insatiable" and bookings have grown significantly since December.
- The company has a $73 billion backlog expected to ship over the next 18 months, with a significant AI networking business expected to be underappreciated by investors.
- A multi-year chip production deal with OpenAI is anticipated to be deployed between 2027 and 2029.
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