Broadcom slips, but Wall Street still sounds bullish

The stock is down, but the story isn’t

Broadcom spent Tuesday in the red, falling roughly 1.5% as the market woke up cranky and futures pointed lower. Nothing like a little macro mood swing to take the shine off an AI favorite, right?

Goldman is still in the “buy the dip” camp

The real company-specific nugget here is Goldman Sachs. Analyst James Schneider reiterated a Buy rating on Sunday and kept a $480 price target in place. That matters because Broadcom is still being traded like a core AI infrastructure play, not just another chip name riding the wave.

The AI plot keeps thickening

Broadcom also has a lot of moving parts around its AI ambitions:

• Bloomberg says Apollo Global Management and Blackstone are discussing a $35 billion financing package tied to Broadcom’s custom AI chip work.
• The Information reported Broadcom is looking for Microsoft to commit to buying 40% of the first batch of chips.
• Broadcom has also been expanding relationships with Alphabet, Anthropic, and Meta.

That’s a lot of heavy hitters in one story, which is great if you like momentum and terrifying if you like simple spreadsheets.

Big picture

Tuesday’s drop looks more like a market wobble than a Broadcom-specific faceplant. The takeaway for investors is that AI enthusiasm is still intact — but the stock is now priced like the market expects the company to keep delivering the kind of infrastructure wins that make everyone else in the room reach for their calculators.