Deutsche Bank analysts highlight Broadcom’s forward price-to-earnings multiple of 17x for 2027, marking a 5% discount to its historical median. This lower multiple positions Broadcom as relatively inexpensive among leading AI chipmakers, with room for multiple expansion if earnings outlook strengthens. A Broadcom product marketing director reported that Taiwan Semiconductor is hitting production capacity limits this year, driven by surging AI chip demand. These constraints have led customers to secure multi-year agreements and have extended lead times, even as TSMC plans capacity increases through 2027 to alleviate bottlenecks.