On June 17, Broadcom rose 3.71% in regular trading, trading at $392.5/share, with turnover of $1.94 billion. The rebound comes after the stock suffered a sharp post-earnings selloff earlier this month.

On the news front, JPMorgan issued a bullish defense of Broadcom, arguing that market fears over a potential delay in Google's next-generation TPU v9 project are unfounded. The firm stated that the project remains on track for 2028 mass production under Broadcom's leadership. Crucially, a five-year agreement signed in March locks Broadcom into a dominant role across Google's next four generations of TPUs, extending revenue visibility through 2031. JPMorgan further noted that Google's in-house design team lags Broadcom by at least 18 months technically, posing no near-term competitive threat. As AI companies accelerate their shift toward custom chips, JPMorgan projects Broadcom's AI revenue to grow 2 to 2.5 times in 2027.

The note appears to have helped stabilize sentiment following the June 3 earnings release, in which Broadcom's Q3 AI semiconductor revenue guidance of $16 billion and full-year AI chip sales forecast of $56 billion both came in below analyst consensus, triggering a 13.78% single-session decline.

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