Broadcom (AVGO) beats the S&P 500 in 2026 but trails the broader tech sector and the chip group. The tech-sector ETF XLK is up 41% and the semiconductor ETF SMH is up 90%. Among specialized CPU and GPU makers, AVGO is the weakest name, roughly matching Nvidia (NVDA).
Part of the reason: both AVGO and NVDA posted very large gains in prior years and have since moved into a sideways, consolidating phase, while some other names have kept climbing.
The chart
AVGO's old high sits near 495 and has not been retested, or even approached, since the last earnings report. After earnings the stock dropped hard, then traded mostly sideways. The highs since have landed near the post-gap highs around 426. The lows reached near 350 on one intraday print, but 357 marked a more steady low.
The moving averages frame the range: the 251-day and 63-day averages set boundaries of about 354 to 386. The volume profile shows the point of control plus another high-activity node between roughly 345 and 380.
The trade idea
For the September 18 expiration, the expected move points to a low near 332, which lines up with an older important low. The example trade sells a September 18 335/330 put vertical for a $1 credit. This is a neutral-to-bullish position with 16 days to expiration, max profit of $100, max loss of $400, and a breakeven at 334, close to the edge of the expected move area. The trade sets up ahead of AVGO's quarterly results.
