Wall Street Analysts Bullish on Broadcom Stock Ahead of Q4 Earnings
Discover why Wall Street analysts are highly optimistic about Broadcom’s upcoming fourth-quarter earnings report, expecting significant revenue growth and a strong market rebound.
Highlights to Know
- Broadcom is set to release its fourth-quarter earnings after market close on Thursday.
- All 12 analysts tracked by Visible Alpha rate Broadcom stock as a "buy" or equivalent.
- Following last quarter’s loss due to merger-related expenses, Broadcom aims for a strong financial recovery.
Broadcom (AVGO) will announce its fourth-quarter earnings after the market closes on Thursday, with an overwhelmingly positive outlook from analysts regarding the chipmaker’s future performance.
According to Visible Alpha, all 12 analysts covering Broadcom maintain a "buy" or equivalent rating, setting a consensus price target near $195—approximately 10% above the current intraday closing price of around $178.
Analysts Forecast 51% Revenue Growth
Wall Street forecasts Broadcom’s revenue to reach $14.06 billion this quarter, marking a 51% increase year-over-year. Net income is projected at $3.52 billion, or 76 cents per share, slightly below last year’s $3.52 billion and 83 cents per share.
Last quarter, Broadcom experienced a $1.88 billion loss partially due to elevated costs from its November 2023 acquisition of VMware, a software company.
Despite a 3% dip in Broadcom shares Thursday morning, the stock has surged 60% in 2024.
Update as of December 12, 2024: Analyst estimates and share price data have been refreshed to reflect the latest market insights.
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