Broadcom Set to Reveal Q4 Earnings: What to Expect

Wall Street Awaits Key Earnings Data

Broadcom Inc AVGO is scheduled to announce its fourth-quarter earnings this Thursday. Analysts predict the company will report earnings per share (EPS) of $1.38 and revenues of $14.10 billion, with results coming out after market hours.

Over the past year, the stock has shown impressive growth, climbing 70.85%. In just the last six months, it’s up by 20.28%.

Apple Teams Up with Broadcom on AI Chip

Apple Inc. AAPL is reportedly collaborating with Broadcom to create its first AI-focused server chip, dubbed Baltra, which is expected to begin mass production in 2026. According to a report by The Information, Apple will utilize the advanced N3P process from Taiwan Semiconductor Manufacturing Co. TSM to manufacture the chip. This partnership is part of a broader initiative among tech firms like Alphabet Inc GOOGL, Amazon.com Inc AMZN, Microsoft Corp MSFT, and Meta Platforms Inc META, aiming to develop proprietary AI chips. This move reduces their dependence on suppliers such as Nvidia Corp NVDA.

This strategic alliance underscores Broadcom’s increasing significance in the AI sector as it gears up for its earnings report. The following sections address the current status of Broadcom’s stock and provide insights based on market data.

Market Performance and Indicators

Broadcom stock demonstrates a robust bullish trend, currently trading at $183.20, consistently remaining above the five-, 20-, and 50-day exponential moving averages. This situation is indicative of sustained buying strength.

Chart created using Benzinga Pro

Additional technical signals point to a positive outlook for Broadcom’s stock. Key moving averages include an eight-day simple moving average (SMA) at $175.08, a 20-day SMA at $168.81, a 50-day SMA at $173.84, and a 200-day SMA at $154.41.

Moreover, the Moving Average Convergence Divergence (MACD) indicator is currently at 1.62, aligning with the overall bullish sentiment. The stock’s Relative Strength Index (RSI) of 56.28 indicates it is comfortably positioned in bullish territory, suggesting potential for further upward movement.

Analyst Ratings and Price Targets

Currently, Broadcom holds a consensus rating of Buy from analysts, with an average price target set at $215, representing an upside of 18.46%. Recent ratings from firms such as Rosenblatt, Citigroup, and UBS reflect this positive sentiment.

Current Stock Performance

As of Thursday, Broadcom stock has dipped 1.78%, trading at $179.93 upon publication.

Further Reading: Stay Updated on Broadcom and the Tech Market

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