Broadcom (AVGO) shares moved higher on Wednesday as investors returned to semiconductor stocks and analysts at JPMorgan reiterated their bullish outlook on the chipmaker. The bank argued that the mark

Why Is Broadcom Stock Gaining Wednesday?

10:04am, Wednesday, 17'th Jun 2026
Broadcom Inc. (NASDAQ:AVGO) stock rose nearly 3% on Wednesday as investors returned to semiconductor and mega-cap technology stocks. The broader market also traded higher, with the Nasdaq gaining 0.54
On Wednesday, JPMorgan (NYSE: JPM) analyst Harlan Sur gave a strong endorsement to Broadcom (NASDAQ: AVGO), saying his firm would be ‘aggressive buyers at current levels.'
Broadcom stock is down this month after issuing so-so guidance. J.P. Morgan says the market continues to underestimate the semiconductor and software company.
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Broadcom's AI chip revenue more than doubled in its latest quarter. Marvell expects its custom silicon business to top $10 billion in fiscal 2029.
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The tech giant's valuation has fallen since it reported earnings earlier this month.
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