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Broadcom is expected to report fiscal first-quarter results after the market closes Thursday.
Analysts are widely bullish on the chipmaker’s stock despite recent losses.
Broadcom shares have lost about one-quarter of their value since hitting an all-time high in December.
Broadcom (AVGO) is set to report fiscal first-quarter results after the market closes Thursday, with analysts widely bullish on the chipmaker’s stock despite recent losses.
All but one of the 13 analysts covering the stock tracked by Visible Alpha have issued a “buy” or equivalent rating, with one “hold” rating. Their consensus price target of $259 would suggest about 30% upside from Friday’s closing price at $199.45.
Broadcom is expected to report revenue of $14.61 billion, up 22% year-over-year, and adjusted net income of $7.39 billion, up from $5.25 billion a year earlier.
The results come after chip and AI stocks sold off late last week as investors reacted to earnings from Nvidia (NVDA) and new tariff announcements. Nvidia’s results exceeded Wall Street analysts’ expectations, but investors may have been looking for more, amid worries about artificial intelligence spending and uncertainty about the potential impact of the Trump administration’s policies relating to tariffs and AI chip export curbs.
Shares of Broadcom fell 9% last week and have lost about one-quarter of their value since hitting an all-time high in December.
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