<div id="readability-page-1"><p>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.</p><h3>Introducing TipRanks MCP for Agents</h3><ul><li> Deliver institutional-grade market data directly into Claude, ChatGPT, Cursor, and other MCP-compatible AI tools. </li><li>Designed for personal research, portfolio monitoring, and AI-assisted investment workflows.</li></ul> <p>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 &#34;enhanced buying opportunity.&#34; </p> <p>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).</p> <h2><strong>Is AVGO Stock a Buy?</strong></h2> <p>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.</p></div>

Broadcom Q2 Earnings Recap: AI chip revenue hit $10.8bn (+143% YoY), total revenue $22.2bn, Non-GAAP EPS $2.44 — a modest beat. Q3 guidance of $29.4bn (+84% YoY), and management boldly set a FY2027 AI chip revenue target of $100bn+. Despite all that, shares sold off 13% after-hours. What's your read on the market reaction?

<p>Broadcom Q2 Earnings Recap: AI chip revenue hit $10.8bn (+143% YoY), total revenue $22.2bn, Non-GAAP EPS $2.44 — a modest beat. Q3 guidance of $29.4bn (+84% YoY), and management boldly set a FY2027 AI chip revenue target of $100bn+. Despite all that, shares sold off 13% after-hours. What's your read on the market reaction?</p>

$10.8bn AI Chip Blowout — Can Broadcom Keep Surging?

AVGO

SOXQ

<p>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.</p>

- Broadcom's stock price has significantly declined since its earnings report, despite positive second-quarter results.  
- Cathie Wood's Ark Invest viewed the drop as a buying opportunity, purchasing over 22,000 shares, while multiple analysts expressed optimism about the stock's future potential.  
- Wall Street consensus rates AVGO as a strong buy, with an average target price of $512.88, indicating a potential upside of 28.8%.

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Cathie Wood Buys Broadcom (AVGO) Stock After Post-Earnings Drop