Broadcom Inc. (NASDAQ:AVGO) stock was up more than 1% in Thursday’s premarket session as investors returned to large-cap semiconductor stocks. Nasdaq futures gained 0.57%, while S&P 500 futures rose 0.15%, supporting risk appetite ahead of the opening bell.
While broader market sentiment supported semiconductor stocks, Broadcom also benefited from its recently announced multi-year partnership with Apple Inc. (NASDAQ:AAPL).
Technical Outlook Remains Constructive
Broadcom continues to trade above its 20-day simple moving average of $380.92, its 100-day SMA of $374.07 and its 200-day SMA of $361.86. That suggests the longer-term uptrend remains intact despite recent volatility.
However, the stock remains 2.7% below its 50-day SMA of $406.79. A move above that level could strengthen the intermediate-term trend.
The relative strength index stands at 49.67, indicating neutral momentum. The reading suggests buying and selling pressure remains balanced as the stock consolidates.
The moving-average setup is mixed. The 20-day SMA sits below the 50-day SMA, reflecting short-term weakness. However, the 50-day SMA remains above the 200-day SMA following the golden cross formed in April, a pattern often viewed as a longer-term bullish signal.
Broadcom remains below its 52-week high of $495.00 reached in June but well above its 52-week low of $269.58, showing that buyers have continued to support the stock during pullbacks.
Traders are watching resistance near $414.50, around the 50-day SMA. Initial support is seen near $370.50, just above the 200-day SMA.
Earnings And Analyst Outlook
Broadcom is expected to report quarterly results on Sept. 3, 2026.
Wall Street expects earnings of $3.16 per share, up from $1.69 a year earlier. Revenue is projected to increase to $29.44 billion from $15.95 billion in the prior-year quarter.
The stock trades at about 64.7 times earnings, reflecting a premium valuation.
Analysts maintain a consensus Buy rating with an average price forecast of $513.68. Recent actions include Erste Group downgrading the stock to Hold on July 7, while UBS reiterated Buy and lowered its price forecast to $485 on June 4. Bank of America also maintained a Buy rating and raised its price forecast to $530 on June 4.
Benzinga Edge Rankings
Broadcom carries a Momentum score of 79.15 and a Quality score of 95.91, indicating strong long-term fundamentals and market leadership.
Its Value score stands at 6.81, suggesting the shares trade at a premium compared with peers. The Growth score is 24.87, indicating investors remain focused on sustained AI-driven execution.
ETF Exposure
Broadcom is among the largest holdings in the First Trust NASDAQ Cybersecurity ETF, the iShares Expanded Tech Sector ETF and the First Trust NASDAQ Technology Dividend Index Fund. As a result, fund inflows and outflows can influence trading activity in the stock.
AVGO Stock Price Activity: Broadcom shares were up 1.31% at $393.78 during premarket trading on Thursday, according to Benzinga Pro data.
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