Broadcom could rally from here as hyperscaler demand continues to increase, according to Jefferies. The bank reiterated its buy rating on the semiconductor stock and named it as a top pick. The bank also raised its price target to $480 per share from $415. Analyst Blayne Curtis' updated price target represents upside of 32% from the stock's Monday close. "While NVDA remains the leader and we still see upside there, AVGO has a greater magnitude of estimate upside as Google, Meta, and OAI ASICs ramp," the analyst wrote. "Google has long been the main ASIC customer for AVGO but those volumes should become much more meaningful in C26/27." AVGO YTD mountain AVGO YTD chart Curtis added that the amount of tokens Google process per month has risen to 1,300 trillion in October from 480 trillion Apr

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