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With a market cap of around $1.8 trillion, Broadcom Inc. (AVGO) is a leading global technology company that designs, develops, and supplies a wide range of semiconductor and infrastructure software solutions. Its products power applications across enterprise and data center networking, broadband access, smartphones, industrial systems, and cybersecurity.
The Palo Alto, California-based company is slated to announce its fiscal Q3 2026 results soon. Ahead of this event, analysts expect Broadcom to report an EPS of $2.83, a 124.6% surge from $1.26 in the year-ago quarter. It has exceeded Wall Street's earnings expectations in three of the past four quarters while missing on another occasion.
For fiscal 2026, analysts project the chipmaker to report EPS of $10.24, marking an increase of 81.9% from $5.63 in fiscal 2025.
Shares of Broadcom have soared 34.6% over the past 52 weeks, outpacing the broader S&P 500 Index's ($SPX) 16.5% return. However, the stock has slightly lagged behind the State Street Technology Select Sector SPDR ETF's (XLK) 36.3% gain over the same period.
Broadcom shares tumbled 12.6% following its Q2 2026 results on Jun. 3 after the company reported weaker-than-expected Q2 revenue of $22.19 billion and projected Q3 AI chip revenue of $16 billion. Investor sentiment was further dampened as the management maintained the company's long-term 2027 AI chip sales opportunity at $100 billion, despite raising expected AI chip shipments to more than 10 gigawatts, disappointing investors who had anticipated an upward revision to the revenue outlook.
Although Broadcom forecast better-than-expected strong Q3 total revenue of approximately $29.4 billion, investors reacted negatively to the earnings miss and lack of an upgraded long-term AI revenue forecast.
Analysts' consensus view on AVGO stock remains bullish, with a "Strong Buy" rating overall. Out of 41 analysts covering the stock, 32 recommend a "Strong Buy," three "Moderate Buys," and six "Holds." The average analyst price target is $518.66, suggesting a potential upside of 35.8% from the current levels.
