Reported about 2 months ago
Analysts have revised their stock forecasts for Broadcom due to its collaboration with OpenAI in developing AI chips, forecasting significant growth in AI-chip sales. Broadcom's CEO Hock Tan anticipates AI revenue will reach $12 billion in fiscal 2024. However, analysts noted challenges, including potential seasonal headwinds and a transition in Google’s TPU technology, which may impact earnings expectations for fiscal 2025. Despite the challenges, Broadcom is positioned well to benefit from increased demand for AI-related semiconductor solutions.
Source: YAHOO