Broadcom will report its fiscal first-quarter earnings after the market closes. Investors are eagerly anticipating whether the company will raise its forecast of the market for artificial-intelligence chips.

A Broadcom microchip on a Raspberry Pi personal computer.

The Wall Street consensus expectations for Broadcom are for the company to report January quarter revenue of $14.62 billion with adjusted earnings per share of $1.51. For the current quarter, the consensus calls among analysts are for revenue of $14.71 billion and EPS of $1.50.

Broadcom’s semiconductors are in a number of categories, including networking, broadband, server storage, wireless, and industrial. Some of the company’s chips can be used for generative artificial intelligence applications.

Three months ago, Broadcom shares surged 24% a day after CEO Hock Tan painted an extremely positive picture of the AI chip market. Tan said on a call with investors that Broadcom’s top three major technology customers would be spending $60 billion to $90 billion on AI chips in fiscal 2027, up from $15 billion to $20 billion in fiscal 2024. He added that Broadcom would win its “fair share.”

Last week, Oppenheimer analyst Rick Schafer reaffirmed his Outperform rating on Broadcom stock and reiterated a target of $225 for the stock price.

“We believe AVGO has one of the most strategically and financially attractive business models in semiconductors,” he wrote. “AVGO is the No. 2 AI semiconductor franchise after Nvidia.”

Broadcom stock has gained 42% over the past 12 months. It closed Wednesday at $191.78.

Broadcom stock was down 3% in premarket trading Thursday after Marvell earnings caused its shares to tumble 18%, precipitating a decline in semiconductor stocks.