The artificial intelligence-fueled arms race is only just beginning, and UBS views Broadcom as well positioned to come out a winner. Analyst Timothy Arcuri reiterated his buy rating and $925 price target on shares after the company's fiscal third-quarter results, calling the semiconductor a "prime beneficiary" of the AI fight.
mountain Broadcom shares fall post-earnings "The AI narrative for AVGO remains firmly intact with both its custom [application-specific integrated circuits] and networking businesses seeing a rapid ramp in AI-related revenues, more than offsetting headwinds in the traditional semis business," he said. Broadcom shares have surged 65% this year as investors go all in on AI. Shares fell 3% on Friday as the chipmaker offered guidance for the current quarter roughly in line with estimates.