Key Highlights

● Broadcom shares climbed to about $355.10 on Tuesday, September 29, 2026, on below-average Volume as AI-linked chip stocks rallied.

● The stock was among those supporting the Nasdaq-100's small gain on a day when the broader market slipped.

● Earlier price-target increases from Raymond James, to $475, and Citi, to $515, were cited as background support.

● Applied Materials surged, Arm jumped and Marvell climbed, while AMD gained after agreeing to buy World Labs.

Broadcom Inc. (NASDAQ:AVGO) climbed on Tuesday, September 29, 2026, trading at about $355.10. The chipmaker and infrastructure software company was among the stocks supporting the Nasdaq-100's small gain on a day when the broader market slipped. Readings of the gain differed, with some showing a modest rise and others a bigger jump.

Momentum on AI Strength

The move was tied to AI-related strength, and the stock rose on below-average volume. Earlier price-target increases from Raymond James, to $475, and Citi, to $515, were cited as background support. Broadcom's heavy weighting in major indexes means its moves carry extra weight, and even a moderate gain can offset losses elsewhere in the market.

Broadcom and the AI Build-Out

Tuesday's headlines highlighted how much money is flowing into that build-out. A leaked Anthropic IPO prospectus, as reported, pointed to $518 billion of planned compute and infrastructure obligations and a valuation target above $2 trillion.

A Chip-Led Lift for the Nasdaq-100

Semiconductors were one of the strongest groups of the session. The U.S. chip index climbed, and the main semiconductor exchange-traded fund was among the best-performing sector funds. Applied Materials (NASDAQ:AMAT) surged, Arm Holdings (NASDAQ:ARM) jumped and Marvell Technology (NASDAQ:MRVL) climbed. Advanced Micro Devices (NASDAQ:AMD) gained after agreeing to buy World Labs for $8.2 billion in stock. The Nasdaq-100 edged higher to 30,339.33 on the chip rally, even as the S&P 500 slipped 12.85 points to 7,670.84 and the Dow Jones Industrial Average fell 131.59 points to 51,349.92. The Nasdaq Composite ended nearly flat at 26,797.54.

Yields Weigh on the Rest

The 30-year Treasury Yield reached its highest level since 2002, and the 10-year touched its highest in roughly two decades. Consumer confidence dropped to 81.9 from 88.6, the lowest since 2014, according to the Conference Board. August Job Openings slipped to 7.079 million, below forecasts and the lowest since March. It was the fifth loss in six sessions for the three major indexes.

A Heavyweight in a Two-Speed Market

New York Fed President John Williams said there is no need for urgency after the central bank's September meeting, and odds of an October rate hike fell to roughly a coin flip. West Texas Intermediate crude settled $3.22 lower at $89.38 a barrel as Middle East exports recovered.