From Yahoo Finance: 2025-06-05 13:23:00

Broadcom shares continue to climb, nearing another record closing price this week. The chipmaker is set to report quarterly earnings after the bell on Thursday. Shares have surged almost 30% in the past month, boosted by the AI trade revival following Nvidia’s strong results.

Options pricing indicates investors expect Broadcom’s stock to move about 6.4% in either direction after earnings, possibly hitting a new high around $277 or dropping to $244. The recent rally has surpassed the analyst consensus price target of $252, with most brokers giving a “buy” rating.

Broadcom’s rally coincides with the launch of its Tomahawk 6 series of advanced data center switches, boasting double the bandwidth of any Ethernet switch in the market. Shares traded near $263 mid-Thursday, maintaining a streak of gains over the past seven sessions.

Read more: Broadcom Stock Paces for New Record High With Earnings On Deck