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 typo in headline)By Anhata Rooprai, Zaheer Kachwala and Stephen NellisJune 3 : Chipmaker Broadcom missed Wall Street expectations for second-quarter revenue on Wednesday…