Chipmaker Broadcom (AVGO) stock is inching higher in Thursday’s pre-market trading, but the stock has declined more than 14% over the past five trading days amid broader market pressure. The company is set to report its fiscal Q3 2026 results on September 2. Analysts expect adjusted EPS of $3.21, up 89% from a year earlier, while revenue is forecast to rise more than 80% to $29.25 billion. Here’s what analysts expect from Broadcom stock ahead of its earnings.
For context, Broadcom stock fell more than 4.6% on Wednesday after rival Marvell Technology (MRVL) announced a new custom-chip agreement with Google (GOOGL). The deal raised concerns about competition for custom AI chip spending, adding to pressure on Broadcom shares.
Latest Analysts’ Views on AVGO Stock
Ahead of the Q3 print, analysts remain upbeat about Broadcom stock.
Ahead of the print, Citi analyst Atif Malik maintained a Buy rating and $500 price target on Broadcom. Malik expects July-quarter revenue and earnings to come in modestly above consensus, while October-quarter results could fall slightly below estimates as AI chip sales make up a larger share of revenue.
Malik kept his fiscal 2027 AI revenue estimate at $116 billion, above Broadcom’s prior $100 billion target but below the market’s $130 billion expectations. He lowered the estimate from $150 billion in his prior view due to challenges around data center readiness and power availability. Regulatory issues also weighed on his outlook. The analyst also raised his fiscal 2027 and 2028 EPS estimates by about 1% and 3%, respectively.
Likewise, Goldman analyst James Schneider maintained his bullish stance on the stock, giving it a Buy rating and a price target of $525, indicating an upside of 45%.
Also, TD Cowen analyst Joshua Buchalter also maintained a Buy rating and a $500 price target on Broadcom. He expects investors to focus on whether the company can maintain strong visibility into AI semiconductor revenue. Buchalter remains confident in Broadcom’s TPU business, supported by strong capital spending plans from Google. However, he is less certain about the timing of some other custom AI chip programs, including projects involving Meta (META) and OpenAI.
Who Are the Best Analysts Covering AVGO Stock?
Interestingly, Harsh Kumar is currently the most accurate analyst covering AVGO over a one-year timeframe. He has a 74% success rate and an average return of 46.30% per trade. On TipRanks, Kumar ranks #9 among more than 12,000 tracked analysts.
Is AVGO a Good Stock to Buy?
Turning to Wall Street, analysts have a Strong Buy consensus rating on AVGO stock based on 23 Buys and three Holds assigned in the past three months. Furthermore, the average AVGO price target of $515.61 per share implies 42.24% upside potential. (See AVGO stock forecast).
