Overview
- Broadcom reports fiscal Q4 results after the close, with LSEG consensus at $17.49 billion in revenue and $1.86 in adjusted EPS.
- AI momentum includes Google’s TPU program used to train Gemini 3, OpenAI planning to deploy Broadcom‑developed custom chips next year, and a $10 billion AI order disclosed from a new customer in September.
- Reports from The Information say Broadcom and Microsoft are in talks to co‑design custom AI chips, signaling a potential new hyperscaler partnership that has not been confirmed by the companies.
- Wall Street has boosted targets on anticipated TPU/XPU and networking strength, and options pricing points to roughly a 7% move after the print as investors focus on FY26 AI revenue outlook and margins.
- Shares trade near record highs after a large 2025 rally, with coverage noting elevated valuation and revenue concentration among a few hyperscale customers as key risks.