On July 21, Broadcom rose 3.17% in pre-market trading, trading at $390.03 USD/share, with turnover of $33.21 million.

On the news front, Arete raised its price target on Broadcom from $488 to $530 while maintaining a Buy rating. Earlier, BNP Paribas also lifted its target from $640 to $675, maintaining an Outperform rating. The current analyst consensus target price stands at $527.73, implying significant upside from current levels. Morgan Stanley has also recently reaffirmed its Overweight rating with a $502 target, defining Broadcom as the core AI winner second only to NVIDIA.

Additionally, SK Hynix Chairman stated that AI semiconductor demand next year is expected to grow 60% to 100% year-over-year, while major manufacturers have virtually no substantial capacity expansion plans, suggesting the supply-demand gap will widen further. This outlook lifted the broader chip sector, with Micron Technology up 6.05%, SK Hynix up 6.12%, Intel up 5.82%, AMD up 4.13%, and NVIDIA up 1.29%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)