Broadcom (AVGO) rose 2.95% to $357.53 on the day, but its share price remains about 30% below the spring high, leaving the chipmaker essentially at a breakeven point for the calendar year.
Meta Platforms (META) slipped 0.48% to $679.02, also hovering near its year‑to‑date start‑point after a series of sharp drops and rebounds that have left the stock flat despite strong advertising metrics.
Microsoft (MSFT) fell 0.91% to $493.21, trading near its 2026 opening level after a rally sparked by a strong fiscal Q4 earnings report in July and a subsequent sideways move since early August.
Broadcom’s outlook hinges on its custom‑chip business, which now supplies Alphabet’s Tensor Processing Units and is slated to deliver large purchase commitments from Alphabet, Anthropic, OpenAI and Meta. The company projects AI‑chip revenue to double in fiscal 2027 and again in fiscal 2028, reaching $230 billion, with adjusted earnings per share exceeding $30.
Meta’s AI push centers on its new Muse AI agent, which can handle tasks such as making purchases, booking travel and completing forms. The firm expects revenue from processing and affiliate fees tied to Muse, while its ad business showed a 14% rise in impressions and a 12% increase in ad prices last quarter.
Microsoft continues to see robust growth in its cloud segment, with Azure revenue up 43% year over year and a $679 billion backlog of Azure commitments at fiscal year‑end. Enterprise software sales are buoyed by Microsoft 365 Copilot, whose paid seats doubled sequentially to exceed 30 million, and commercial revenue rose 16%.
Analysts note that the next catalysts for each stock will be distinct: Broadcom will need Anthropic and OpenAI to keep expanding compute capacity; Meta’s stock could react to user‑growth data and monetisation of Muse; and Microsoft’s valuation will depend on sustained Copilot adoption, progress on custom AI chips and diversification of its cloud offerings.