Broadcom Inc AVGO will report its fourth-quarter results on Thursday. Wall Street expects earnings per share of $1.38 and revenue of $14.10 billion, the company reported after-hours.

The stock is up 70.85% over the past year and 20.28% over the past six months.

Apple Inc. AAPL The company is reportedly working with Broadcom to develop its first AI-focused server chip, codenamed Baltraexpected to go into mass production by 2026.

According to the information, Apple is planning to leverage Taiwan Semiconductor Manufacturing Co.’S TSM advanced N3P process for production. This move is in line with a broader trend among tech giants including Alphabet Inc‘S GOOGL GOOG Google, Amazon.com Inc AMZN, Microsoft Corp MSFTAnd Meta Platforms Inc METAto develop proprietary AI chips and thus reduce dependence on third parties Nvidia Corp NVDA.

This partnership underscores Broadcom’s growing role in the AI ​​ecosystem as the company prepares to release its fourth quarter results. Let’s look at what the charts show for Broadcom stock and how the stock currently compares to Wall Street estimates.

Also Read: How to Make $500 a Month on Broadcom Stock Ahead of Q4 Earnings

Broadcom stock is trending strongly bullish, with its $183.20 share price consistently above the 5-day, 20-day, and 50-day exponential moving averages, indicating continued buying pressure.

Chart created with Benzinga Pro

Broadcom stock is technically bullish, supported by several bullish signals at key moving averages: the 8-day SMA at $175.08, the 20-day SMA at $168.81, the 50-day SMA at $173.84 and the 200-day SMA at $154.41.

Furthermore, the Moving Average Convergence Divergence (MACD) indicator is at 1.62, confirming the bullish outlook. With a Relative Strength Index (RSI) of 56.28, AVGO stock remains comfortably in bullish territory, indicating further potential for upward momentum.

Reviews and Consensus Estimates: The consensus analyst rating for Broadcom stock is currently “Buy” with a price target of $1,047.81. The latest analyst ratings from Rosenblatt, Citigroup and UBS suggest an 18.46% upside potential for Broadcom shares, with an average price target of $215.

AVGO price promotion: Broadcom shares were down 1.78% at $179.93 at press time on Thursday.

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