By Ines Ferré
Publication Date: 2026-06-03 16:56:00
What happened: Broadcom (AVGO) stock edged higher to touch a new intraday all-time high on Wednesday ahead of the chipmaker’s fiscal second quarter results due after the closing bell.
By the numbers: Wall Street analysts expect the company to post adjusted earnings of $2.39 per share on revenue of $22.13 billion. The company reported earnings per share of $1.58 per share on revenue of $15 billion for the same three-month period a year ago.
Broadcom is expected to benefit from hyperscaler artificial intelligence spending this year, which is estimated to reach $650 billion. The custom chipmaker’s customers include Google (GOOG, GOOGL), Meta (META), and AI developers Anthropic (ANTH.PVT) and OpenAI (OPAI.PVT).
“Broadcom is priced for perfection going into today, and the bull case is that it might actually deliver perfection,” Mark Malek, chief investment officer at Siebert Financial, wrote in a note on Wednesday.
“The growth has been enormous, they’ve…
