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MU
Micron Technology
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#1
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NVDA
NVIDIA
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#2
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AAPL
Apple
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#3
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PLTR
Palantir Technologies
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#4
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AMD
Advanced Micro Devices
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#5
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AVGO
Broadcom
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#6
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SNDK
Sandisk Corporation
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#7
View the Zacks #1 Rank List
Is Broadcom (AVGO) a 'Buy' Ahead of Its Upcoming Earnings Announcement?
Semiconductor giant Broadcom (AVGO - Free Report) is set to report fiscal Q2 results on Wednesday after the closing bell. A Zacks Rank #3 (Hold), Broadcom surpassed the earnings mark in each of the past four quarters. With the stock breaking out to all-time highs, is AVGO a buy ahead of the release?
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
Analysts are expecting the company to post earnings of $2.40 per share, reflecting outsized growth of 51.9% versus the same quarter last year. Sales are projected to have surged nearly 47% to $22.04 billion during the quarter.
The AI infrastructure provider delivered an average earnings surprise of 1.9% over the prior four quarters. Shares are up roughly 32% year-to-date and are outperforming the major indexes.
Customer concentration and intensifying competition remain key headwinds. Still, Broadcom is experiencing strong momentum fueled by growth in AI semiconductors, as well as heavy demand for its networking products and software solutions.