Broadcom (AVGO) is set to release its fiscal first-quarter results after the market closes Thursday, and analysts remain optimistic about the chipmaker’s stock despite recent declines.
Of the 13 analysts covering Broadcom, as tracked by Visible Alpha, all but one have issued a “buy” or equivalent rating, with only one analyst offering a “hold” rating. The consensus price target stands at $259, implying a potential upside of around 38% from Tuesday’s closing price of $187.48.
The company is expected to report revenue of $14.61 billion, a 22% year-over-year increase, along with adjusted net income of $7.39 billion, up from $5.25 billion during the same period last year.
Broadcom’s earnings come at a time when chip and AI stocks have faced significant sell-offs. Concerns surrounding the impact of Trump administration policies on tariffs and AI chip export restrictions have added pressure to the sector. As a result, Broadcom shares fell approximately 9% last week and another 6% this week through Tuesday’s close. The stock has dropped roughly 25% since peaking at an all-time high in December.
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