Broadcom Q4 Preview: Stock Up 74% In 2025, Can Another Record Quarter Send Shares Higher?
Semiconductor giant Broadcom Inc (NASDAQ:AVGO) could highlight surging demand for artificial intelligence chips when the company reports fourth-quarter financial results Thursday after market close.
• Broadcom stock is at critical resistance. Why did AVGO hit a new high?
Here are the earnings estimates, what analysts are saying ahead of the results and the key items to watch.
Earnings Estimates: Analysts expect Broadcom to report fourth-quarter revenue of $17.49 billion, up from $14.05 billion in last year's fourth quarter, according to data from Benzinga Pro.
The company has beaten analyst estimates for revenue in three straight quarters and in eight of the past 10 quarters overall.
Broadcom has also posted 10 straight record quarters for revenue with the amount getting higher each report. The current estimate would set a new record once again for an 11th straight quarter.
Analysts expect Broadcom to report fourth-quarter earnings per share of $1.86, up from $1.42 in last year's fourth quarter.
The company has beaten analyst estimates for earnings per share in three straight quarters and in nine of the past 10 quarters overall.
Guidance from the company calls for fourth-quarter revenue of $17.4 billion.
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What Analysts Are Saying: Analysts have been increasing their price targets and providing bullish takes on Broadcom ahead of the quarter.
JPMorgan analyst Harlan Sur sees the company reporting stronger-than-expected fourth quarter results thanks to demand for AI-related products and improvements in the non-AI semiconductor sector.
The analyst maintained an Overweight rating on Broadcom ahead of the results.
Sur's estimate is for AI revenue to be between $6.5 billion to $6.7 billion of quarterly revenue of around $17.5 billion.
The analyst expects Broadcom to report strong first-quarter guidance with estimates of $19 billion for overall revenue and $8 billion for AI revenue.
Partnerships with companies like Google could help the company going forward, according to BofA Securities analyst Vivek Arya.
Arya reiterated a Buy rating on Broadcom ahead of the report and raised the price target from $400 to $460.
The analyst sees strong demand from Google, Anthropic and Meta expanding and helping to power guidance and future results.
Arya said Broadcom is well-positioned for increased AI-related spending.
Here are other recent analyst ratings on Broadcom and their price targets:
- Rosenblatt: Maintained Buy rating, raised price target from $400 to $440
- Oppenheimer: Maintained Outperform rating, raised rice target from $400 to $435
- Susquehanna: Maintained Positive rating, raised price target from $400 to $450
- Morgan Stanley: Maintained Overweight rating, raised price target from $409 to $443
Key Items to Watch: Broadcom shares have soared in 2025 and the company may need to report a beat and strong guidance to keep momentum going.
A recent report links Microsoft to work with Broadcom on custom AI chips, which would see the tech giant move business from Marvell to Broadcom.
In the AI-chip space, Broadcom has been winning deals with some of the biggest companies, which could help provide bullish commentary from management and strong guidance.
Broadcom's third quarter saw AI revenue of $5.2 billion, which was up 63% year-over-year. Analysts see the AI revenue continuing to climb going forward. Broadcom's own estimate is for fourth quarter AI revenue of $6.2 billion.
Broadcom's quarterly results could put the spotlight on the entire semiconductor sector. The stock is the largest holding in the iShares Semiconductor ETF (NASDAQ:SOXX) at 8.42% of assets, even ahead of Nvidia due to the stock surge this year.
A strong report from Broadcom could boost other semiconductor stocks and ETFs going forward.
AVGO Price Action: Broadcom stock is up 0.24% to $407.26 on Wednesday at publication versus a 52-week trading range of $138.10 to $407.28. Broadcom shares are up 73.7% year-to-date in 2025.
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