Key Takeaways
- Broadcom’s fiscal second-quarter results are due after the closing bell Thursday.
- Wall Street expects the chipmaker to report growing revenue and profits fueled by demand for AI.
- Most analysts tracked by Visible Alpha have a “buy” or equivalent rating, but their consensus price target suggests they don’t see big gains for the stock.
Broadcom (AVGO) is scheduled to report fiscal second-quarter results after the closing bell Thursday, with Wall Street expecting growing revenue and profits fueled by demand for AI chips.
Analysts on average expect Broadcom to report revenue of $15.02 billion, up 20% year-over-year, and adjusted net income of $7.8 billion, up from $5.39 billion a year ago. AI revenue is expected to climb 42% year-over-year and 7% sequentially to $4.42 billion.
Oppenheimer analysts called Broadcom the “No. 2 AI franchise after NVDA,” in a note to clients Thursday, raising their price target to $265 from $225. Broadcom’s “core franchises in networking, wireless, broadband, server/storage, and software support sustainable growth,” the analysts said. “We remain long-term buyers.”
Of the 14 analysts tracked by Visible Alpha, 13 have a “buy” or equivalent rating for Broadcom stock, with one “hold.” However, their consensus price target near $247 would suggest just 2% upside from Friday’s close.
After Nvidia’s (NVDA) strong sales report Wednesday helped propel the chipmaker to briefly reclaim the title of most valuable company in the world, Morgan Stanley analysts said they “also are positive on [Broadcom] in the AI space, but we are hard pressed to generate additional enthusiasm.”
Shares of Broadcom have added just over 4% in 2025 so far.
