Broadcom Inc. (NASDAQ:AVGO) shares surged 2.20% to $339.30 in after-hours trading on Tuesday, following a 3.91% gain during the regular session, closing at $331.98. The rally came as the company announced it will release its fourth-quarter and fiscal 2026 earnings on December 9, after the market close, with a conference call scheduled for 2 p.m. Pacific Time to discuss the results and business outlook.
Broadcom, a designer and supplier of semiconductor and infrastructure software products, exceeded expectations in its last reported quarter, which ended in September. The company reported quarterly revenue of $29.59 billion, slightly above the analyst estimate of $29.44 billion. Earnings per share came in at $3.32, surpassing the expected $3.16 by 5.06%.
JPMorgan (NYSE:JPM) analyst Harlan Sur noted that Google’s newly announced TPU 8i Max aligns with Broadcom’s custom chip roadmap, reiterating an Overweight rating on the stock. However, Google did not name Broadcom as a supplier.
Broadcom’s market capitalization stands at $1.58 trillion, with a 52-week high of $495 and a low of $289.77. The stock has fallen roughly 7.37% over the past 12 months and is currently trading at 20.57% of its 52-week price range. The Relative Strength Index (RSI) of AVGO is 49.40.