JPMorgan Pushes Back on Broadcom (AVGO) Delay Fears and Says the TPU v9 Program Is Firmly on Schedule

Broadcom (AVGO) received a vote of confidence from JPMorgan analyst Harlan Sur, who reiterated an Overweight rating with a $580 price target on June 17. The analyst specifically addressed market concerns surrounding potential delays in the TPU v9 program, a critical AI chip collaboration with Google, asserting that the project remains firmly on schedule. This reassurance directly counters recent sentiment headwinds affecting the semiconductor name.

The reaffirmation of JPMorgan's constructive stance reflects institutional confidence in Broadcom's execution capabilities during a period of heightened scrutiny over AI infrastructure timelines. The TPU v9 program represents a material revenue opportunity for the chipmaker, and any perceived delays could materially impact valuation multiples. Sur's pushback suggests the Street's concerns may be overblown relative to actual operational reality, potentially opening a tactical opportunity for risk-on positioning.

Broadcom's exposure to Google's AI buildout—a secular growth driver—positions the company favorably within the AI semiconductor ecosystem. The $580 target implies modest upside from prevailing levels, signaling measured optimism rather than aggressive enthusiasm. This stance aligns with billionaire investor Dan Loeb's characterization of AVGO as a compelling growth opportunity.

Sector implication: The revalidation of TPU v9 timelines supports broader Technology and semiconductor narratives tied to AI infrastructure deployment. Reduced delay risk strengthens conviction in semiconductor supply chain continuity and validates chipmakers' ability to monetize generative AI demand cycles effectively.