Melius Research lowered its price target for Broadcom from $610 to $450, a cut of more than 26%, according to a post circulating on X. The reduction, which the firm has not publicly confirmed, follows a roughly 30% to 35% decline in the stock from its June 2026 peak of $480 to $495. The original target was based on Google’s expected surge in artificial intelligence infrastructure spending, projected at $352 billion in 2027, and on Broadcom’s design of TPU accelerators for the company. Investors are concerned, however, that Google may diversify its TPU suppliers. Despite the reduction, the $450 target remains below the $520 to $530 average set by roughly 45 to 50 analysts who rate the stock a strong buy.
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