Citi analysts are projecting a swing upwards for Broadcom (AVGO) stock, ahead of the company’s Q2 earnings report. The semiconductor company will report earnings on June 3, 2026, with Wall Street forecasting good news. Citi recently raised its price target to $500, highlighting expectations of significant revenue growth in the upcoming quarters.
Specifically, City said it models Broadcom’s April-quarter and July-quarter sales and earnings per share modestly above consensus, driven by stronger artificial intelligence demand. estimates AI revenue will grow from roughly 49% of total sales currently to approximately 81% by fiscal fourth-quarter 2028, with combined Google and Anthropic AI sales projected to reach around $80 billion and total AI sales hitting $115 billion in 2027, rising to $180 billion in 2028.
Citi’s $500 target reflects a near 20% gain from Broadcom’s (AVGO) current price of $414. While the stock is down just over 3% on Tuesday, this opens the door for a potential solid buy opportunity. Additionally, Citi pushed back on concerns about Broadcom’s enterprise software business, calling fears “overblown” and describing the segment as “very sticky” given deep integration across large enterprises.
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Furthermore, Citi isn’t the only firm bullish on Broadcom (AVGO) stock ahead of earnings. Cantor Fitzgerald’s price target of $525 is the highest among analysts, suggesting a significant upside from the current price of $428.43. Other analysts like Rosenblatt and Benchmark also foresee growth, with targets of $500 and $485, respectively.
For the last reported quarter, Broadcom Inc. came out with earnings of $2.05 per share versus the Wall Street estimates of $2.03 per share, representing a rise of 0.99%. For the previous quarter, the company was expected to post earnings of $1.87 per share, and it actually produced earnings of $1.95 per share, delivering a surprise of 4.28%. Broadcom shares now trade for 38 times 2026 estimates and 24 times 2027 estimates. Those aren’t cheap valuations, and Broadcom will need to outperform expectations in order to really drive strong returns. However, its not impossible, and AVGO could be a solid opportunity to invest ahead of June’s earnings.