On September 29, Broadcom rose 3.24% in regular trading, trading at $358.915/share, with turnover of $696 million. The gain came amid a broad-based rally across the semiconductor sector, with names such as Marvell Technology, ASML, ARM, and Micron Technology all advancing over 2%.
The rally was underpinned by persistent AI infrastructure demand catalysts. JPMorgan projected that custom AI ASIC shipment share will surpass GPUs next year, with the addressable market reaching $60 billion to $70 billion. Broadcom reported AI semiconductor revenue of $16.7 billion in its most recent quarter, a 221% year-over-year surge. CEO Hock Tan reaffirmed the company's AI semiconductor revenue targets, projecting $115 billion for fiscal year 2027 and $230 billion for fiscal year 2028, reinforcing market confidence in Broadcom's AI growth trajectory.
Additionally, recent options market activity has shown bullish positioning, with notable call purchases at both $350 and $380 strike prices observed in the prior week, signaling directional conviction from institutional participants.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)