Broadcom(US:AVGO) Ge Long Hui·2025-12-12 09:04Core Viewpoint - Morgan Stanley has raised the target price for Broadcom from $443 to $462 while maintaining an "Overweight" rating, driven by strong AI revenue guidance and significant customer orders [1][2] Group 1: Financial Projections - The company has projected AI revenue of $8.2 billion for the January quarter, exceeding Morgan Stanley's forecast by over 20% [1] - Adjustments to the current fiscal year revenue, non-GAAP gross margin, and earnings per share have been made from $83.7 billion, 74.8%, and $8.78 to $100.3 billion, 72.7%, and $10.73 respectively [1] - The firm has also increased its revenue and earnings forecasts for the next fiscal year, reflecting greater confidence in AI growth [1] Group 2: Customer Orders and Market Outlook - The company’s fifth-largest customer (not OpenAI) has a $1 billion order expected by the end of next year [1] - Orders from AI startup Anthropic by the end of next year have led to significant upward revisions in the company's current fiscal year forecasts, although there are concerns about the sustainability of these orders in the following year [1] - The outlook for the company's non-AI semiconductor business remains subdued, and the software division is expected to experience seasonal fluctuations in the short term [1]