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Jefferies Reaffirms Buy, Lifts Broadcom (AVGO) Target to $315

Broadcom Inc. (NASDAQ:AVGO) is one of the 10 AI Stocks Making Waves on Wall Street.  On June 30, Jefferies reiterated the stock as “Buy” and raised its price target to $315 per share from $300. The rating affirmation reflects the firm’s optimism in the AI and networking sectors. It believes that Broadcom boasts a strong hold in the AI application-specific integrated circuit (ASIC) market, focusing on prominent developers of large language models.

“The AI ASIC message has stayed consistent: they are targeting major customers building their own LLMsDespite recent concerns, AVGO was clear that they are still deeply engaged with the same customer base and don’t see any future share loss. In the long run, AVGO sees seven major LLM players worldwide (five in US) as the target customer base for ASICs.”

-Jefferies analysts, led by Blayne Curtis, in a Monday investor note.

A close up of a circuit board, its microchips creating a powerful computing system.

The firm also sees potential in Broadcom’s networking solutions.

“The battle has heated up for the scale-up opportunity with Nvidia’s (NVDA) NVLink still the leader, but both AVGO and Astera Labs (ALAB)/UALink working on competing solutions,” Curtis noted. “The opportunity is expected to be 5-10x larger than scale-out and AVGO expects to have solutions using both Tomahawk and Jericho.”

The company is also set to ramp up Google’s Ironwood TPU during the second half of 2025.

“On the supply chain side, AVGO plans to keep HBM in-house to prevent anything that could go wrong and ensure responsibility for the final product,” Curtis said. “HBM4 is on the roadmap but no vendor decisions have been made.”

Broadcom is a technology company uniquely positioned in the AI revolution owing to its custom chip offerings and networking assets.

While we acknowledge the potential of AVGO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 10 AI Stocks in the Spotlight and 10 AI Stocks Investors are Watching.

Disclosure: None.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.

What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.

And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…

This prediction might not be bold at all:

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