According to CoinMeta, after the financial report was released, Bank of America lowered their target price for Broadcom from $530 to $460, but still maintained a buy rating. Despite the chip manufacturer reporting record quarterly earnings and making aggressive predictions for artificial intelligence growth, BofA analyst Vivek Arya still believes that the lowered target price reflects investors' concerns about short-term guidance. Broadcom Revenue in the third quarter was $29.59 billion, a year-on-year increase of 86%. The company expects revenue in the fourth quarter to be around $34.8 billion, with AI semiconductor revenue surging by 221% to reach $16.7 billion.