Broadcom delivered a standout Q3, with 86% revenue growth and robust beats on both top and bottom lines, driven by AI semiconductor momentum. I maintain a Strong Buy rating and $588 price target, citing accelerating growth in both Semiconductor Solutions and Infrastructure Software, and a comfortable margin of safety versus Street estimates. AVGO's AI chip business is scaling rapidly, with secured supply supporting $115B in FY27 and $230B in FY28, underpinned by sticky hyperscaler relationships and cost advantages.
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