Proactive Investors - Broadcom Corporation (NASDAQ:AVGO) is slated to report fiscal second-quarter results after the market closes on June 1, and if recent semiconductor company reports are any indication, an expectations beat may be just around the quarter.
The company is expected to report earnings of $10.08 per share, up nearly 12% year-over-year, and revenue of 8.7 billion, up nearly 10%.
The company has beaten earnings expectations each of the last four quarters.
Earlier this week, Broadcom received a repeat ‘Buy’ rating from UBS analysts after the company announced two multi-year agreements with Apple (NASDAQ:AAPL) to supply radio frequency and wireless components and modules.
The analysts wrote that the agreement also appeared to quash speculation from earlier this year that Apple would displace Broadcom components from its devices beginning in 2025, although they noted that Apple continues to push more technology in-house to reduce reliance on external vendors.
However, Broadcom may not have as much room to run after strong performances from other chipmakers like Nvidia and Marvell have boosted its share price.
Broadcom shares traded almost 6% higher Friday morning at $770.55.