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flag Broadcom shares rose 4.6% on strong AI-driven Q1 results and boosted outlook.

flag Broadcom shares rose 4.6% to $345.75 on March 9, 2026, following strong fiscal Q1 results driven by surging AI chip demand. flag The company reported $19.31 billion in revenue, a 29.5% year-over-year increase, with AI-related revenue reaching $8.4 billion—up 106%—and accounting for 44% of total sales. flag Broadcom raised its Q2 revenue guidance to $22 billion, confirmed a $10 billion share buyback, and secured long-term manufacturing deals with TSMC through 2028. flag CEO Hock Tan projected AI chip revenue could exceed $100 billion by 2027. flag Despite a high P/E ratio, the stock’s PEG ratio of 0.75 suggests undervaluation relative to growth, and analysts maintained a “Moderate Buy” consensus with an average price target of $435.30.

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