Ahead of Broadcom Earnings, Here’s What Barchart Data Says Comes Next for AVGO Stock

Palo Alto-headquartered Broadcom (AVGO) is in favor ahead of its fiscal second quarter (Q2) earnings set to be released late on Wednesday. 

Consensus is for the custom AI chips specialist to record about $22 billion in revenue – up roughly 22% year-over-year – on $2.02 a share of earnings versus $1.33 per share a year ago. 

Heading into the quarterly print, Broadcom stock is up some 39% year-to-date, but the derivatives market seems to believe it has significant further room to the upside. 

Where Options Data Suggests Broadcom Stock Is Headed

According to Barchart, the put-to-call ratio on options contracts expiring at the end of this week (June 5) sits at 0.56 currently, indicating a strong bullish skew. 

The upper price on those contracts is set at nearly $512, signaling AVGO shares could rally about 7.61% within days after the Q2 release. 

Investors should also note that Broadcom’s technicals also suggest continued momentum ahead.  

At the time of…