Bloomberg Surveillance · Wednesday, September 9, 2026
Jay Hatfield also favors Broadcom (AVGO), noting that the stock fell despite a 25% increase in guidance. He sets a conservative target of $450 based on 15 times fiscal year 2028 earnings. Hatfield believes this target is achievable, even if the stock is currently trading as if it's at the top of the cycle. He advises investors to focus on the long-term potential rather than short-term price movements.
“I think we're the only ones who like it. But they also announced a 25% increase in guidance. And the stock went down, I think, 6% that day. We have this super conservative target. So 15 times 28 fiscal. And they have a short fiscal. And that gets you to 450. We think that's really conservative.”
“It is a bigger company. So all these very large companies like Nvidia, and particularly on the chip side, are trading more like they're at the top of the cycle. So 15 is possibly the real number. But easy to get to that number. Same thing. Be longer term. Don't look at what happens during earnings.”