JPMorgan names Broadcom a Strong Buy and recommends buying semiconductor stocks on dip, citing AI chip backlog and over $650B in hyperscaler spending.

JPMorgan names Broadcom a Strong Buy and recommends buying semiconductor stocks on dip, citing AI chip backlog and over $650B in hyperscaler spending.

Semiconductor stocks have outperformed hyperscalers since September 2025, but JPMorgan warns the trend may be unsustainable as Big Tech builds custom chips.

"there is risk that other Hyperscalers begin to temper expectations on the rate of change on capex growth given the poor performance of their stocks over the past few months as…