AI Capex Panic Meets Bull Case: Street Splits on Meta, Applied Materials as Broadcom Target Implies 60% Upside
Research flow across the AI complex hardened into two camps this session — buy-side conviction in compute infrastructure earnings power versus valuation fatigue in second-derivative names like Vicor and Nebius.
A dense batch of sell-side and independent research reframed the AI capital-expenditure debate: Meta's spending shock is being characterized as transitory, Applied Materials is described as firing on all cylinders, and one Wall Street shop sees more than 60% upside in Broadcom after a three-month drawdown. Offsetting that, Vicor's power opportunity is judged already priced in and Nebius' $40bn backlog is met with skepticism.
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