PREVIEW: Broadcom shares rise; results due after the bell

Broadcom AVGO.O shares were up about 1.3% in afternoon trading Thurs ahead of the chip company's quarterly results, due after the closing bell

AVGO is seen reporting an increase in rev to $15.825 bln from $13.072 bln a yr ago, and earnings of $1.65/shr vs $1.24 a yr ago, according to LSEG

"Broadcom is going to give us another view" into the outlook for AI, said Mike Dickson, head of research and quantitative strategies at Horizon Investments in Charlotte, North Carolina.

Shares of Nvidia NVDA.O last week fell after Sino-U.S. trade uncertainties prompted the leading AI chip designer to exclude potential China sales from its quarterly forecast

AVGO has beaten analysts' earnings estimates in all of the past eight reporting periods, per LSEG data

Analyst recommendations on AVGO include 41 "strong buy" or "buy" ratings and two "hold" ratings

The median 12-mo price target on the stock is $315; with the last at $306.34

AVGO is up about 32% YTD compared with a roughly 10% gain in the S&P 500 .SPX in that period