Broadcom stock fell despite upbeat Q2 results. Analysts say expectations were elevated. Raise PT on rising AI demand.

Broadcom's AI chip sales are growing rapidly, with a projected $40 billion in revenue this fiscal year and a $73 billion backlog.

(Corrects to say adjusted profit beat estimates, not trailed, in paragraph 7)June 3 : Broadcom forecast third-quarter revenue above Wall Street expectations on Wednesday, betting…