UBS analyst Timothy Arcuri maintained a 'Buy' rating on Broadcom on June 11, citing strong demand from OpenAI and Anthropic for AI infrastructure components, even as supply constraints pose near-term risks. The rating signals confidence in Broadcom's position as a semiconductor supplier to major AI builders, though the company did not raise guidance in its latest earnings, tempering investor enthusiasm.
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On June 11, Timothy Arcuri of UBS maintained a 'Buy' rating on Broadcom Inc. (NASDAQ:AVGO) with a price objective of $485. The analyst noted that supply constraints might create uncertainty around Google's future roadmap, but remains optimistic about the company's long-term AI opportunity.
Why it matters
Broadcom designs and supplies semiconductor devices and infrastructure software solutions. The analyst highlights robust demand from OpenAI and Anthropic, both building out AI infrastructure, which underpins the bullish outlook despite near-term supply challenges.
What to watch
Wolfe Research also remains optimistic and noted that an Apollo and Blackstone partnership is expected to aid future demand from OpenAI and Anthropic. However, some investors were disappointed that Broadcom did not increase its outlook after the latest earnings report.
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