JPMorgan Dismisses Broadcom (AVGO) Delay Fears, TPU v9 on Schedule

JPMorgan analyst Harlan Sur pushed back against market fears that Broadcom's (NASDAQ:AVGO) AI chip project with Google (NASDAQ:GOOGL) could face delays, stating that the TPU v9 program is firmly on schedule.

Rating Change

Sur reiterated an Overweight rating on Broadcom with a $580 price target, unchanged from his previous stance.

Analyst's Rationale

Sur argued that recent concerns about a potential delay in the TPU v9 project are unfounded, emphasizing that the program is progressing as planned. He highlighted Broadcom's critical role as Google's partner in developing custom AI chips, which supports long-term growth.

Context

The analyst's comments come after reports sparked investor anxiety over possible delays in the TPU v9 project, putting pressure on Broadcom's stock. Sur's reassurance helps restore confidence. Broadcom is also considered one of the best growth stocks by billionaire Dan Loeb.

Bottom Line

Broadcom remains an attractive long-term investment given sustained AI chip demand. However, investors should monitor official updates from the company regarding the project timeline.