Truist Securities analyst William Stein reiterated Broadcom Inc (NASDAQ: AVGO) with a Buy and a $995 price target.
Stein views press reports that AVGO will lose its critical AI computing customer, Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) Google as possible, but not likely.
The analyst estimates this potential design loss relates to ~55% of AVGO's AI-related revenue, ~11% of total revenue, and ~8% of EPS.
Stein reiterates his optimistic views on AVGO's fundamentals and themes: likely mid-single-digit organic sales growth, boosted by AI exposure and M&A, that result in double-digit dividend ...