Broadcom (AVGO) stock price declined 7% in 2026 due to recent pessimistic sentiment in the artificial intelligence industry, yet the company remains a major competitor to Nvidia. Despite a 22% decline from the 2025 peak, Broadcom reported strong fiscal 2026 first quarter results with revenue of $19.3 billion, up 29% year-over-year; net profit reached $7.3 billion, up 34% year-over-year. CEO Hock Tan expects AI chip revenue to exceed $100 billion in 2027, with fiscal 2026 earnings per share projected to grow 66%. Analysts maintain bullish price targets, with Susquehanna and Rosenblatt at $450 and Benchmark at $485, noting that the current price of around $320 represents an excellent buying opportunity.