Shares of Broadcom (AVGO) are trending toward an all-time high closing price for thꦡe fourth day in a row as the chipmaker prepares to report quarter🌳ly results after the bell. 

The stock has climbed each of the past seven trading sessions and hit a record intraday high of $265.43 Wednesday before closing at about $261. Shares traded near $263 mid-Thursday. Broadcom shares have gained nearly 30% in the past month, buoyed by an AI trade revived by Nvidia's (NVDA) strong results last week.

As to whether the rally will continue after Broadcom’s quarterly results, options pricing suggests investors 澳洲幸运5官方开奖结果体彩网:expect the stock to move about 6.4% in either direction Friday. A move of that magnitude would either lift shares to another record high around𒐪 $277 or sink them to $244, ab🅘out where they were a week ago. 

Broadcom’s recent rally has brought its share price above the analyst consensus pric🐽e target of about $252 from analysts tracked by Visible Alpha. Of 14 total brokers, 13 have a “buy” or equivalent rating for Broadcom stock, with one “hold.” 

The surge comes as earlier this week Broadcom began shipping its Tomahawk 6 series of advanced data center switches, which the company said are equipped with double the bandwidth of any Ethernet switch on the market.