Broadcom Just Had Its Best Day in Nearly a Year, Back Above $1.5 Trillion Omor Ibne Ehsan Tue, November 10, 2026 at 8:53 AM EST 6 min read AVGO +0.33% NVDA -3.75% TSLA -0.35% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Broadcom (AVGO) surged 9% on a sector-wide chip rally, yet it still sits 34% below its June record despite AI sales tripling.
Broadcom's $1.53 trillion value edges out Tesla (TSLA) by just $30 billion, while NVIDIA (NVDA) fell 4% as the only index decliner after a board probe.
December 9 earnings will test whether Broadcom delivers $22 billion in AI revenue and a confirmed 2027 outlook to justify the 64% upside analysts see.
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Broadcom (NASDAQ:AVGO) rose $25.79 on Monday, or 8.78%, to close at $319.48. It was the stock's biggest one-day percentage gain since an 11.1% jump last November, and it put the company's market value back above $1.5 trillion.
The average price target among Wall Street analysts is $533.42, which means about 67% upside from Monday's close. That target is higher than the stock's record close of $481.57 from June.
The gap stands out because Broadcom's AI chip sales more than tripled last quarter. Even so, the stock is still about 33.7% below its peak, and it has fallen behind the broader market all year.
The market is likely underpricing one of the fastest-growing large companies in the world, unless analysts have not yet adjusted to whatever caused the selloff. Monday left that question open, though it showed how quickly buyers come back when investors feel better about AI spending.
No company-specific news drove the gain. The Philadelphia Semiconductor Index rose 6.85% to 10,033.93.
NVIDIA (NASDAQ:NVDA) was the only stock in that index to fall. It lost 4.27% after its board opened a probe tied to reports about its CEO.
Broadcom traded between $304.29 and $323.05 on about 36.7 million shares, roughly 1.5 times its 20-day average. It was the first close above $300 since November 4.
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At $1.53 trillion, Broadcom is again worth more than Tesla (NASDAQ:TSLA), which rose 5.54% to $1.49 trillion. The lead is only about $30 billion, so one strong day for Tesla could erase it.
One market observer linked Broadcom's noon gain of about 10% to investors buying AI infrastructure stocks after the prior week's tech selloff (the power, cooling, and networking suppliers behind the data centers are the subject of our free AI infrastructure report, here). Because nearly every chip stock rose, Broadcom likely would have climbed on Monday anyway.
Even after Monday, Broadcom is down 7.19% this year, while the S&P 500 has gained 10.38%. The company's results do little to explain the drop from June.
In September, Broadcom reported non-GAAP EPS of $3.32 against a $3.24 estimate, its ninth consecutive beat. Revenue was $29.6 billion, up 86%.
The September call pointed to a cost for that growth. The chief financial officer said, "As XPUs become a larger proportion of our total revenue mix, it impacts our margin."
Lower margins and wider doubts about AI spending are both reasonable reasons for the selloff. The available data can't show which one counted more.
A second tracker puts the average target at $523.72 from 30 analysts, which means roughly 64% upside. Price targets are opinions, though, and they often lag after a sharp drop.
The targets depend on Broadcom's September forecasts. The company expected fiscal fourth-quarter revenue of about $34.8 billion, up 93%, and CEO Hock Tan said he expected AI semiconductor revenue to reach $21.7 billion.
Management also said it had secured enough supply to roughly double AI revenue to about $115 billion in fiscal 2027, and that "our demand actually exceeds this outlook." If that 2027 plan is delayed, many of these targets will likely come down fast.
Broadcom reports fiscal fourth-quarter results after the close on December 9. That should give you a clearer answer in a few weeks.
Before then, October CPI data arrives on Tuesday, and NVIDIA's earnings are expected on November 17. Both will shape how investors view AI chip stocks.
For the gap to narrow, the report needs AI revenue at or above $21.7 billion and a confirmed 2027 outlook. The stock becomes a value trap if lower margins start to exceed cost savings from growth, or if customer projects are delayed by the power, substrate, and memory shortages Tan himself has pointed to.
Broadcom's setup has improved since June. At $319.48, the stock trades below where it started the year, while management forecasts 93% revenue growth. Expectations are far lower than they were at $481.57. If December holds up, the gap to the target most likely means sentiment has fallen behind the business.
Customer concentration adds risk. Broadcom sells its custom accelerators to six customers, so one delay would hurt.
Broadcom also carries less near-term company-specific risk than NVIDIA right now, because NVIDIA's board probe adds a risk that has nothing to do with demand. The outlook still looks favorable, but keep in mind that Monday's 8.78% gain came from a broad market rally and could fade before December.
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