Broadcom Crosses $2 Trillion — Viking, Rio Tinto, Dycom, and Wabtec Approach Buy Points

Google's 8th-gen TPU announcement lifted Broadcom 5%; the company is targeting AI chip revenue of $100B+ by 2027.

With the U.S. market in continued strength, a basket of names across tech, industrials, materials, and leisure is approaching technical buy points: Broadcom, Viking Holdings, Rio Tinto, Dycom Industries, and Wabtec.

Broadcom — $2 trillion market cap, partnered with Google through 2031

Broadcom briefly crossed the $2 trillion market cap on April 22, with the stock printing an all-time high near $422. Up over 20% year-to-date and roughly 240% over the past two years.

The catalyst was Google's announcement of its 8th-generation TPU AI chip. Broadcom has co-designed TPUs with Google for roughly a decade, with the contract now extended through 2031. Each new TPU generation gives Broadcom more order visibility. The stock jumped 5% on the day Google announced.

Earnings back the move. Q1 revenue: $19.31 billion (+29% YoY); AI semiconductor revenue: $8.4 billion (+106%). Q2 AI guide: $10.7 billion. CEO Hock Tan described AI as "accelerating" on the call. Six AI customers — including Google, Meta, and OpenAI — are working with Broadcom on multi-gigawatt, multi-year deployments, and the company has guided to AI chip revenue significantly in excess of $100 billion by 2027. The stock has reclaimed a $414.61 cup-base buy point.

Viking Holdings — leader in the cruise upcycle

Viking Holdings is the standout name in a rapidly growing cruise category. Specializing in river, ocean, and expedition cruises, it benefits directly from rising premium-travel demand. It has shown best-in-class performance through this leg of the cycle and remains within a buyable range.

Rio Tinto — new CEO, copper and aluminum demand intact

Mining major Rio Tinto has been on a steady uptrend since its CEO transition. Long-term demand for copper and aluminum — both critical for AI infrastructure and the energy transition — anchors the bull case. The energy paradigm shift triggered by the Iran war is also accelerating the green transition.

Dycom Industries — fiber installer riding the data-center build-out

Dycom installs and maintains fiber optic networks, making it a direct beneficiary of the data center construction boom. FY2026 cumulative backlog reached an all-time high of $9.54 billion, and the most recent quarter's standalone backlog has stayed in the $8 billion range. Named IBD's Stock of the Month, the shares have cleared a $421.70 early entry; the traditional cup-base buy point is $445.52.

Wabtec — from rail brakes to AI data center power

Wabtec (Westinghouse Air Brake Technologies) builds locomotives, braking systems, mining equipment, and marine engine components. The stock is up roughly 24% YTD and trading near a $266.27 flat-base buy point.

Q1 revenue rose 13% to $2.95 billion with adjusted EPS of $2.71, well above the $2.51 consensus. The headline is the $30.8 billion backlog — an all-time high, up about 38% year-on-year, with the 12-month rolling backlog up roughly 13%. Power infrastructure demand from AI data centers and rising rail-logistics volume are the long-term drivers.