Broadcom stock price forecast: Holding above $343.60–$348.01 range as AVGO rises 3.18%

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Broadcom jumps 3.18% today on AI deals

Highlights

Broadcom solidifies its position as Google's and Anthropic's primary custom AI chip supplier through multi-year agreements extending to 2031.
AI semiconductor revenue grew 106% year-over-year to $8.4 billion in Q1 fiscal 2026, with management guiding for $10.7 billion in Q2.
AVGO trades near all-time highs with bullish long-term momentum, but technical indicators flag near-term overbought conditions and volatile trading between $343.60 and $348.01.

AI hardware demand grows as Broadcom secures Google and Anthropic deals

Broadcom has extended its multi-year strategic partnership with Google to design and supply custom TPUs through at least 2031, and secured landmark supply agreements with both Google and Anthropic. These deals establish Broadcom as the primary designer and supplier for Google's next-generation AI hardware, while also providing Anthropic with about 3.5 gigawatts of compute capacity based on Google TPUs starting in 2027. Following these developments, Broadcom reported Q1 fiscal 2026 AI semiconductor revenue rose 106% year-over-year to $8.4 billion, with management targeting $10.7 billion in Q2 AI semiconductor revenue.

Mixed momentum signals reflect volatility despite strong technical support

Technically, AVGO is supported above all its major moving averages, with the Ichimoku Kijun at $321.55 serving as immediate support. Momentum signals are mixed: ADX is neutral, but MACD is in strong sell territory, pointing to short-term momentum weakness. RSI at 57.76 and CCI at 74.70 are both in buy range, indicating no immediate overbought risk, yet Stoch RSI and BBP reveal strong overbought and buyer-dominant conditions. The price is near the lower end of today's intraday range after an upward gap at the open, reflecting high volatility and waning strength following the initial surge.

Narrow price corridor expected as overbought risks prompt caution

Looking ahead, AVGO is expected to trade in the $343.60 to $348.01 range, representing a typical volatility band relative to current levels. There is a very high probability (over 80%) of a continued price increase, with further declines seen as less likely. The baseline scenario is for AVGO to hold in a narrow sideways corridor near recent highs. A bullish move will be confirmed by a breakout above $348.01 resistance, while a breakdown below $343.60 support would indicate a potential bearish reversal; the overall trend remains up, but short-term overbought conditions require caution for new long positions.

Viktoras Karapetjanc, expert at Traders Union, sees Broadcom’s outlook as fundamentally strong. He points to robust contract wins with Google and Anthropic fueling long-term revenue visibility. Technicals show short-term overbought signals, but underlying momentum and industry positioning remain constructive. The analyst believes near-term caution is warranted for new entries, but the broader trajectory is upward. "Strong fundamentals and major AI partnerships keep me bullish — I expect higher levels if AVGO holds above $343.60 support."

Earlier, analysts noted that Broadcom was exhibiting persistent bullish momentum supported by favorable technical alignment and growing optimism among market participants. With major new AI partnerships and accelerating revenue growth now in play, traders should monitor the $348.01 resistance for a potential breakout, which could signal the onset of another upward leg in Broadcom's prevailing uptrend.

Source of Data: AVGO Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.