--- title: "Cathie Wood Buys Broadcom (AVGO) Stock After Post-Earnings Drop" type: "News" locale: "en" url: "https://longbridge.com/en/news/289079702.md" description: "Cathie Wood's Ark Investment Management purchased approximately $8.7 million in Broadcom (AVGO) shares following a post-earnings stock drop, viewing the selloff as a buying opportunity despite the company not raising its AI revenue forecast. Wall Street analysts remain bullish; Citi and Bank of America maintained Buy ratings with price targets of $500 and $530 respectively, citing strong AI growth prospects. The consensus rating for AVGO is Strong Buy, with an average price target implying significant upside potential." datetime: "2026-06-08T15:35:31.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/289079702.md) - [en](https://longbridge.com/en/news/289079702.md) - [zh-HK](https://longbridge.com/zh-HK/news/289079702.md) --- # Cathie Wood Buys Broadcom (AVGO) Stock After Post-Earnings Drop Shares of Broadcom (AVGO) have fallen sharply since the chipmaker reported its earnings. Nevertheless, Cathie Wood's Ark Investment Management is treating the selloff as a buying opportunity. On June 4, Ark funds bought 22,528 Broadcom shares, worth about $8.7 million based on the stock's June 5 closing price of $385.73. Interestingly, the selloff happened even though Broadcom's Q2 results were mostly solid. ### Introducing TipRanks MCP for Agents - Deliver institutional-grade market data directly into Claude, ChatGPT, Cursor, and other MCP-compatible AI tools. - Designed for personal research, portfolio monitoring, and AI-assisted investment workflows. However, investors were disappointed that CEO Hock Tan did not raise the company's $100 billion AI semiconductor revenue forecast for Fiscal 2027, even though he said Broadcom still expects that momentum to continue. Still, some Wall Street analysts agree with Wood that the pullback could be attractive. Indeed, Citi (C) analysts, led by five-star analyst Atif Malik, kept a Buy rating and a $500 price target. In addition, the firm stated that the share price decline creates an "enhanced buying opportunity." Separately, Bank of America (BAC) is also bullish and raised its price target to $530 from $450 while keeping a Buy rating. The firm, led by five-star-rated Vivek Arya, said that Broadcom's AI business remains on track, with AI revenue expected to grow by about 180% in Fiscal 2026 and nearly 100% in Fiscal 2027, thanks to demand from customers such as Anthropic, Meta Platforms (META), OpenAI, and Google (GOOGL). ## **Is AVGO Stock a Buy?** Turning to Wall Street, analysts have a Strong Buy consensus rating on AVGO stock based on 24 Buys, three Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average AVGO price target of $512.88 per share implies 28.8% upside potential. ### Related Stocks - [AVGO.US](https://longbridge.com/en/quote/AVGO.US.md) - [SOXQ.US](https://longbridge.com/en/quote/SOXQ.US.md) - [SMH.US](https://longbridge.com/en/quote/SMH.US.md) - [SOXX.US](https://longbridge.com/en/quote/SOXX.US.md) - [SOXL.US](https://longbridge.com/en/quote/SOXL.US.md) - [XSD.US](https://longbridge.com/en/quote/XSD.US.md) - [PSI.US](https://longbridge.com/en/quote/PSI.US.md) - [FTXL.US](https://longbridge.com/en/quote/FTXL.US.md) - [AVL.US](https://longbridge.com/en/quote/AVL.US.md) - [AVGG.US](https://longbridge.com/en/quote/AVGG.US.md) - [AVGU.US](https://longbridge.com/en/quote/AVGU.US.md) - [AVGX.US](https://longbridge.com/en/quote/AVGX.US.md) - [AVS.US](https://longbridge.com/en/quote/AVS.US.md) - [AVGW.US](https://longbridge.com/en/quote/AVGW.US.md) - [C.US](https://longbridge.com/en/quote/C.US.md) - [BAC.US](https://longbridge.com/en/quote/BAC.US.md) - [META.US](https://longbridge.com/en/quote/META.US.md) - [GOOGL.US](https://longbridge.com/en/quote/GOOGL.US.md) - [C-R.US](https://longbridge.com/en/quote/C-R.US.md) - [BAC-Q.US](https://longbridge.com/en/quote/BAC-Q.US.md) - [BML-L.US](https://longbridge.com/en/quote/BML-L.US.md) - [BAC-L.US](https://longbridge.com/en/quote/BAC-L.US.md) - [BAC-K.US](https://longbridge.com/en/quote/BAC-K.US.md) - [BML-H.US](https://longbridge.com/en/quote/BML-H.US.md) - [BAC-N.US](https://longbridge.com/en/quote/BAC-N.US.md) - [BAC-E.US](https://longbridge.com/en/quote/BAC-E.US.md) - [MER-K.US](https://longbridge.com/en/quote/MER-K.US.md) - [BAC-O.US](https://longbridge.com/en/quote/BAC-O.US.md) - [BML-G.US](https://longbridge.com/en/quote/BML-G.US.md) - [BAC-M.US](https://longbridge.com/en/quote/BAC-M.US.md) - [BAC-B.US](https://longbridge.com/en/quote/BAC-B.US.md) - [BML-J.US](https://longbridge.com/en/quote/BML-J.US.md) - [BAC-S.US](https://longbridge.com/en/quote/BAC-S.US.md) - [BAC-P.US](https://longbridge.com/en/quote/BAC-P.US.md) - [8648.JP](https://longbridge.com/en/quote/8648.JP.md) - [GOOG.US](https://longbridge.com/en/quote/GOOG.US.md) ## Related News & Research - [Investors Are Punishing Broadcom Stock After Earnings. 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