Chip stocks surged Monday, led by Broadcom (AVGO) and Advanced Micro Devices (AMD) following bullish calls from analysts anticipating gains driven by growing demand for 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI).

Shares of Broadcom added 5.5%, leading gains on the S&P 500 after UBS analysts lifted their AI revenue estimates for the company in fiscal 2026 and 2027 by 20% and 40%, respectively. The analysts maintained a “buy” rating for the stock and raised their price target to $270 from $220, implying a 16% premium from Monday's closing price of $232.35.

UBS is not the only firm bullish on Broadcom, with all of the 14 analysts polled by Visible Alpha holding a "buy" or equivalent rating for the stock. However, their average price target is a bit lower at $249, suggesting 7% upside. Broadcom shares have already more than doubled in value this year.

Meanwhile, AMD shares jumped 4.5% to $124.60 Monday after analysts at Rosenblatt called it a "top pick" for the first half of 2025, noting its growing market share and AI-driven potential, as well as its likelihood to benefit from a "broader non-AI recovery exiting 2025." They maintained a "buy" rating and price target of $250 for the stock, above the average of around $185 compiled by Visible Alpha. Despite Monday's gains, AMD shares have lost about 15% in 2024.

Shares of other chipmakers, including Nvidia (NVDA), Qualcomm (QCOM), and Intel (INTC), also rose Monday, with the PHLX Semiconductor Index (SOX) climbing about 3%.