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What happened:<\/strong> Broadcom (AVGO<\/a>) stock edged up more than 1% to touch a new intraday all-time high on Wednesday ahead of the chipmaker\u2019s fiscal second quarter results due after the closing bell.<\/p>\n By the numbers: <\/strong>Wall Street analysts expect the company to post adjusted earnings of $2.39 per share on revenue of $22.13 billion. The company reported earnings per share of $1.58 per share on revenue of $15 billion for the same three-month period a year ago.<\/p>\n Broadcom is expected to benefit from hyperscaler artificial intelligence spending this year, which is estimated to reach $650 billion. The custom chipmaker\u2019s customers include Google (GOOG<\/a>, GOOGL<\/a>), Meta (META<\/a>), and AI developers Anthropic (ANTH.PVT<\/a>) and OpenAI (OPAI.PVT<\/a>).<\/p>\n \u201cBroadcom is priced for perfection going into today, and the bull case is that it might actually deliver perfection,\u201d Mark Malek, chief investment officer at Siebert Financial, wrote in a note on Wednesday.<\/p>\n \u201cThe growth has been enormous, they’ve beaten their own guidance seven quarters running, and the backlog gives them real visibility,\u201d he added.<\/p>\n Shares of the chip maker has been on a tear over the past five sessions, adding $300 billion in market cap.<\/p>\n What else you should know: <\/strong>Even if Broadcom beats expectations and raises guidance on Wednesday, the question is whether that upside is already priced in. The stock is already up 37% year to date.<\/p>\n Semiconductor stocks have led the broader market rally to all-time highs this year amid an AI data center boom and infrastructure build-out.<\/p>\n Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at <\/em>@ines_ferre<\/em><\/a>.<\/em><\/p>\n Click here for the latest technology news that will impact the stock market<\/strong><\/a><\/p>\n Read the latest financial and business news from Yahoo Finance<\/strong><\/a><\/p>\n<\/p><\/div>\n