AVGO Stock Closes at Record Highs – $300 Next Target If Q1 Broadcom Earnings Upbeat

A breakout for the semiconductor powerhouse following a share price increase and an upbeat outlook ahead of earnings has pulled Broadcom...

Written by: Skerdian Meta • Tuesday, June 3, 2025 • 2 min read

• Last updated: Tuesday, June 3, 2025

Broadcom shares made a massive bullish move in May

Quick overview

Broadcom's share price surged over 3%, nearing its all-time high, indicating a potential breakout ahead of earnings.
The company has seen a significant turnaround after a 40% decline earlier this year, driven by strong demand for semiconductors, particularly in AI infrastructure.
Analysts have upgraded earnings estimates, forecasting a 20% revenue increase and a 43% profit jump in the upcoming Q1 fiscal earnings.
With positive technical indicators and strong market positioning, Broadcom is poised to potentially exceed previous highs if earnings meet expectations.

A breakout for the semiconductor powerhouse following a share price increase and an upbeat outlook ahead of earnings has pulled Broadcom back into the spotlight.

Broadcom Leads the Tech Charge

While broader U.S. indices logged modest gains, investor focus shifted to the tech sector—specifically to Broadcom (AVGO), which delivered a standout performance. The semiconductor heavyweight surged over 3% during Monday’s U.S. session, including a pre-market gap higher and 2.5% today, pushing the stock price above the previous record high. The move yesterday brought AVGO within striking distance of its September all-time high of $251.88, signaling a potential technical breakout which happened today.

This marked reversal comes after the stock endured a sharp correction earlier in the year, falling over 40% from its peak. However, sentiment has decisively turned, with investors re-entering the name on expectations that Broadcom’s dominant position in chipmaking—especially for AI infrastructure—will translate into sustained revenue growth.

Chip Momentum Reshapes Forecasts

Broadcom has benefitted from surging demand for semiconductors across large tech firms, particularly as AI infrastructure buildouts accelerate. Over the past 12 months, the stock has gained more than 88%, supported by its strong market positioning and rising enterprise demand. Analysts have responded by upgrading earnings estimates and highlighting infrastructure spending as a key growth driver.

Q1 fiscal earnings are scheduled for release after Thursday’s closing bell, and the outlook is promising. Wall Street expects revenue to rise by approximately 20% to $15.02 billion, while profit is projected to jump 43% to $7.8 billion. The EPS consensus stands at $1.57. Notably, AI-related sales are forecast to grow 42% year over year and 7% sequentially, reaching $4.42 billion—a figure that underscores Broadcom’s expanding footprint in AI systems.

AVGO Chart Weekly – Reversal and Technical Setup before Earnings

The recent rally in AVGO also holds technical significance. After rebounding from its 100-week simple moving average—a level that had previously acted as key support—the stock reclaimed the $186 level, which had served as a major resistance zone earlier this year. This move suggests the worst of the 2025 downturn may be behind it.okeIf momentum continues after the stock broke above its December high ahead of Thursday’s earnings, AVGO could set the stage for a run toward the $300 level—a milestone that now seems well within reach given the strength of the current uptrend and positive macro tailwinds.

Looking Ahead: With a bullish technical backdrop, renewed investor confidence, and promising Q1 projections, Broadcom appears to be regaining its leadership role in the tech space. The company’s alignment with secular AI trends and robust chip demand positions it well to not only retest but potentially surpass previous highs in the coming weeks—assuming earnings validate the optimism.

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Skerdian Meta

Lead Analyst

Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.