On September 17, Broadcom rose 3.03% in regular trading, trading at $349.16/share, with turnover of $17.07 billion, as a broad semiconductor sector rally converged with strong fundamental catalysts.
On the news front, Broadcom CEO Hock Tan publicly pushed back against the so-called AI slowdown narrative, reaffirming the company's FY2027 AI semiconductor revenue target of $115 billion and a doubling to $230 billion in FY2028, emphasizing that AI infrastructure demand remains robust. Additionally, the company disclosed approximately $179.2 billion in remaining performance obligations as of August 2, underscoring long-term order visibility and revenue durability.
The stock had previously come under pressure after EU antitrust regulators launched a deep review of Broadcom's post-acquisition VMware licensing overhaul, raising concerns about potential impacts on its infrastructure software segment. The current rebound appears driven by sector-wide momentum — with peers including Intel up 8.13%, Marvell Technology up 5.57%, Micron up 5.26%, AMD up 4.33%, and NVIDIA up 2.55% — combined with the CEO's confident forward guidance and substantial backlog supporting a recovery in sentiment.
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