Overview
- Broadcom will report fiscal Q2 results after the close on Wednesday, June 3, with analysts projecting roughly $22.1 billion in revenue and about $2.40 in adjusted earnings per share.
- The company said AI revenue surged to $8.4 billion in the last quarter and management has guided Q2 AI chip sales to about $10.7 billion, supported by a disclosed $73 billion AI backlog.
- Broadcom is expanding beyond data‑center ASICs into networking and edge products, including the newly announced BCM68850 50G PON home gateway chip that integrates a neural processing unit and supports Wi‑Fi 8.
- Markets have bid the stock to near‑record levels this week with year‑to‑date gains near 29–30 percent, several banks lifting price targets to about $490, and options traders pricing a roughly 10.65 percent post‑earnings swing.
- Investors face clear risks: revenue depends on a small group of hyperscalers, an Anthropic order was restructured into fewer rack shipments but higher margin ASICs, and a hedge fund disclosed put bets equivalent to nearly 3 million shares that signal divergent views on execution and valuation.