Broadcom’s Big Moment: Why Wall Street Has Its Eyes on $250 Ahead of Earnings

June 4, 2025: With Broadcom (AVGO) set to report its highly anticipated earnings on June 5, the tech giant has become one of the hottest names on Wall Street — and not just because of its recent rally. Smart money is moving in, and several signals suggest this could be a defining earnings event of the season.

Street-High Price Target at $301
Redburn Atlantic analyst Mike Harrison has initiated coverage with a bullish “Buy” rating and a bold price target of $301 — the highest on Wall Street. Harrison highlights Broadcom’s dominance in the ASIC (application-specific integrated circuit) market, a key growth driver for AI and cloud infrastructure.

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Congress Is Buying In
Recent disclosures reveal that U.S. Representatives Kelly Morrison and Michael McCaul bought shares of AVGO in April. While political trades don’t always move markets, these buys align with strong institutional activity and bullish analyst calls — making them hard to ignore.

Gamma Signals Point to $250
According to Barchart’s Gamma Exposure Tool, there’s a strong cluster of positive gamma above $250. This level has become a magnet for price action, with market makers hedging options positions to maintain stability. But as earnings approach, any break from this level could unleash a sharp move in either direction.

Options Market Predicts Big Swing
Traders are using Barchart’s Expected Move Tool to forecast Broadcom’s post-earnings price range. This options-based tool is invaluable for planning risk-managed trades, such as straddles, strangles, or scaling into positions.

Bullish Technical Setups Already Firing
Barchart’s trading algorithms have been flagging multiple bullish patterns on AVGO since April — including moving average crossovers and breakout confirmations — signaling momentum is already tilting upward into earnings.

But Beware: Overbought Conditions Could Backfire
While the momentum is strong, caution is warranted. Broadcom’s 14-day Relative Strength Index (RSI) sits at 82.01, firmly in overbought territory. If earnings disappoint, a sharp pullback is very much on the table.