What's Going On With Broadcom Stock Wednesday?
Portfolio Pulse from Adam Eckert
Broadcom Inc (NASDAQ:AVGO) shares are trading higher ahead of its Q2 earnings report. The company is expected to report earnings of $10.84 per share on revenue of $12.028 billion. Broadcom has a strong track record of beating EPS and revenue estimates. Analysts have given positive ratings, with price targets ranging from $1,500 to $1,658, citing strong AI growth.
June 12, 2024 | 3:10 pm
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Broadcom shares are trading higher ahead of its Q2 earnings report, with expectations of $10.84 EPS and $12.028 billion in revenue. The company has a strong history of beating estimates, and analysts have given positive ratings with high price targets, driven by AI growth.
Broadcom's consistent track record of beating earnings and revenue estimates, coupled with positive analyst ratings and high price targets, suggests a likely positive short-term impact on the stock price. The focus on AI growth further strengthens this outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100