Broadcom is having one of the best months in its history. The chip giant’s stock has climbed 28% in April, placing it among the top three monthly performances since the company — then called Avago — went public in 2009.
As of midday Thursday, AVGO was trading around $397.78, up 0.3% on the day. The stock is close to its all-time closing high of $412.97, hit in December 2025.
The winning streak now sits at eight consecutive days. According to Dow Jones Market Data, that would be the longest run since December 2023.
The broader chip sector has helped set the table. The VanEck Semiconductor ETF has gained 19% this month, recovering from a pullback tied to geopolitical tensions in the Middle East following U.S. and Israel strikes against Iran.
But Broadcom has been doing its own heavy lifting.
This month, Broadcom disclosed extended or new agreements with Google, Meta, and AI startup Anthropic. The Anthropic deal alone covers 3.5 gigawatts of next-generation compute capacity, aimed at powering Anthropic’s Claude models.
The deals caught Wall Street’s attention quickly. UBS raised its medium-term estimates for Broadcom following the Google and Anthropic announcements, now projecting the company will ship 7 million tensor processing unit (TPU) accelerators in 2027. That’s up from a prior estimate of 6 million.
UBS kept its Buy rating on AVGO and a $475 price target, arguing the deals embed Broadcom firmly in what it called the “billion-dollar revenue narrative” of AI infrastructure.
Of 54 analysts tracked by FactSet, 51 rate Broadcom a Buy or equivalent. The average 12-month price target sits at $465.55, pointing to around 17% upside from current levels.
BofA Securities analyst Vivek Arya upgraded his global outlook for the semiconductor industry this month, hiking the 2026 revenue forecast to $1.3 trillion. That’s a $300 billion jump from estimates made just four months ago.
Arya raised his growth forecast for the non-memory chip market to 25% for 2026, up from a prior estimate of 22%. He pointed to AI data center demand as the main engine.
Broadcom was named as a primary driver behind the revised forecast.
The stock’s April run places it in rare company within its own history. Only two other months since 2009 have seen bigger gains. At its current pace, that streak could extend further before the month is out.
As of Thursday, AVGO sits less than 4% below its all-time closing high.
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