tech
JPMorgan says clients should be 'aggressive buyers' of this chip stock
Broadcom is trading at a relative discount, according to JPMorgan.
TL;DR
- J.P. Morgan recommends aggressive buying of Broadcom stock.
- The bank has an 'overweight' rating with a $580 price target, implying 54% upside.
- Broadcom is noted for its dominance, chip design leadership, and aggressive new product cadence.
- Rumors of delays for custom AI accelerator chips (TPU v9) have impacted the stock.
- J.P. Morgan believes TPU v9 is still on track for a 2028 debut, supporting the stock's upside.
- 47 out of 51 Wall Street analysts covering Broadcom rate it a buy or strong buy.