Broadcom Inc AVGO will be reporting its fourth-quarter earnings on Thursday. Wall Street expects $1.38 in EPS and $14.10 billion in revenues as the company reports after market hours.

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

Apple Partnership Builds Bullish Momentum

Apple Inc. AAPL is reportedly partnering with Broadcom to develop its first AI-focused server chip, code-named Baltra, expected to enter mass production by 2026.

According to The Information, Apple plans to leverage Taiwan Semiconductor Manufacturing Co.’s TSM advanced N3P process for production. This move aligns with a broader trend among tech giants, including Alphabet Inc‘s GOOGL GOOG Google, Amazon.com Inc AMZN, Microsoft Corp MSFT, and Meta Platforms Inc META, to design proprietary AI chips, reducing reliance on third-party suppliers like Nvidia Corp NVDA.

This partnership highlights Broadcom's growing role in the AI ecosystem as it prepares to report its fourth-quarter earnings. Let’s look at what the charts indicate for Broadcom stock and how the stock currently maps against Wall Street estimates.

Broadcom Stock Strongly Bullish Ahead Of Q4 Earnings

Broadcom stock exhibits a strongly bullish trend, with its share price of $183.20 consistently trading above the five-, 20- and 50-day exponential moving averages, signaling sustained buying pressure.

Chart created using Benzinga Pro

Broadcom stock is technically bullish, supported by multiple bullish signals across key moving averages: the eight-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.

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

Broadcom Analysts See 18.5% Upside

Ratings & Consensus Estimates: The consensus analyst rating on Broadcom stock stands at a Buy currently with a price target of $1,047.81. The latest analyst ratings from Rosenblatt, Citigroup and UBS imply an 18.46% upside for Broadcom stock with an average price target of $215.

AVGO Price Action: Broadcom stock is down 1.78% at $179.93 on Thursday at publication.

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