J.P. Morgan Reiterates Buy Rating on Broadcom, Keeps PT at $400

Core Insights - Broadcom Inc. is recognized as one of the top AI stocks to buy according to Goldman Sachs, with J.P. Morgan reiterating a Buy rating and maintaining a price target of $400 [1][3]. Group 1: Company Positioning and Strategy - J.P. Morgan analyst Harlan Sur expressed optimism about Broadcom's positioning in the AI sector, noting strong demand for AI and the potential for customer engagements to scale to one million XPU AI clusters [2]. - Broadcom has set an ambitious target of $120 billion in AI revenue by 2030, with a history of exceeding its goals [3]. - The company is on track to launch its first-generation 2nm/3.5D package AI XPU products in 2025, positioning itself as a technology leader ahead of merchant GPU competitors [3]. Group 2: Market Performance and Analyst Estimates - As of September 23, Broadcom's average price target is $382.50, indicating an upside potential of approximately 15.85% from current levels [4]. - Broadcom is a significant player in AI infrastructure, focusing on custom AI chips, networking, and optical interconnects [4].