JPMorgan's 'Aggressive Buy' on Broadcom Pays Off, but Insider Selling Persists
2026-07-15 11:16:52
JPMorgan's aggressive buy call on Broadcom (AVGO) is paying off after Apple committed over $30 billion to the chipmaker through 2031. According to BeInCrypto, the call came from analyst Harlan Sur, who maintained an Overweight rating and $580 target on June 17, citing Broadcom's lead in custom AI chip design. On July 8, the day of the Apple deal, Broadcom's chief legal officer Mark Brazeal sold 25,000 shares worth about $9.48 million, trimming his stake by roughly 10%. The stock trades near $389, still 21% below its 52-week high, with next earnings due September 2. Most analysts rate it a buy, but cautionary signals include a drifting Chaikin Money Flow and an Erste Group downgrade to hold.
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