Jim Cramer sees an opportunity in Broadcom's 15% plunge, with one key caveat

Don't let Broadcom's 15% post-earnings drop on Thursday fool you, says Jim Cramer: You want to own it. "Every time there's been this kind of huge break in the stock, you have to buy it," Jim said on 'Squawk on the Street' Thursday. However, Jim advised investors to wait a day or two to let all the sellers be flushed out and give the stock a chance to stabilize. Broadcom was red-hot coming into the print, up over 19% on the year and hitting a fresh closing high of around $481 Tuesday. That kind of set-up leaves little wiggle room: The company needed to do more than beat and raise to move the stock higher. But the earnings report , while strong, wasn't enough to excite investors, who wanted to see management boost its AI revenue guidance — not just reiterate it. In for the quarter, delivered after the bell on Wednesday, Broadcom reported record AI semiconductor revenue of $10.8 billion, up 143% year over year and well above its guidance. For the 2026 fiscal year, Broadcom expects to hit AI semiconductor revenue of $56 billion, up about 180% from fiscal year 2025. "Now we expect this momentum to continue into fiscal year 2027 and reiterate our AI semiconductor revenue guidance to be in excess of $100 billion," said Broadcom CEO Hock Tan on the earnings call. Tan added that the AI semiconductor strength should continue into fiscal year 2028, thanks to its six core customers, including recently expanded partnerships with Google , Anthropic, and Meta . …