Broadcom Inc. (NASDAQ:AVGO) is among the 8 Stocks Owned by President Donald Trump in his Stock Portfolio. As of the close of business on March 30, it sports a Strong Buy rating with an average share price upside potential of 61%.
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Recent updates include BofA analyst Vivek Arya, who on March 23 maintained a Buy rating on the stock with a price target of $450. This is a reaffirmation of the bank’s earlier adjustment on March 5, when it trimmed the price target from $500 following the recent earnings call to reflect lower sector multiples.
However, BofA described Broadcom Inc. (NASDAQ:AVGO)’s Q1 2026 results as ‘reassuring’, according to a report on TipRanks, with the firm also lifting its pro-forma earnings estimates by 2%, 16%, and 37%, for fiscal years 2026, 2027, and 2028, respectively.
The chip designer posted a revenue of $19.31 billion for the first quarter, representing a 29% year-over-year increase, topping estimates of $19.18 billion. Its adjusted earnings per share came in at $2.05, exceeding forecasts by two cents.
In other news, on March 24, Broadcom and Carahsoft secured a five-year, $970 million blanket purchase agreement (BPA) from the Defense Information Systems Agency (DISA) for the consolidation of software contracts.
Broadcom Inc. (NASDAQ:AVGO) is a leading developer, manufacturer, and supplier of semiconductor and infrastructure software products, widely used by organizations worldwide to meet their mission-critical requirements.
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