My call: −3% to +3%.
I’m bullish on Broadcom’s long-term AI opportunity, especially custom ASICs, networking and its growing exposure to hyperscalers. However, I think a lot of the good news is already priced in after Nvidia’s strong earnings. With AVGO still well below its June high, the market will likely focus heavily on forward guidance rather than just the headline numbers.
Even if Broadcom beats expectations and raises its outlook, I’m not expecting another Nvidia-style breakout immediately. The ~8% implied move shows elevated expectations, while investors may also use a strong report to take some profits. For Thursday, I’m therefore expecting a relatively volatile session but ultimately a −3% to +3% close as the market digests the results and guidance.
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