Semiconductor giant Broadcom (NASDAQ: AVGO) received a bullish $340 price target from Goldman Sachs, implying a 17% upside. The company aims to secure hyperscale customers for AI semiconductors to fuel growth. Apple’s $100 billion U.S. investment includes Broadcom as a partner for RF components crucial for 5G communications in iPhones.

Despite reaching an all-time high, Broadcom’s stock fell 7% due to tech sector weakness. The decline is not company-specific, providing reassurance. Broadcom’s forward P/E ratio decreased to 40x, easing pressure ahead of its upcoming earnings release on September 4. Expectations for the firm’s fiscal Q2 2025 results remain high.

Read more at Nasdaq: Broadcom Named in Apple’s $100B U.S. Investment Plan