Reported 10 months ago
Broadcom has projected its Q1 revenue to exceed Wall Street estimates, bolstered by strong demand for its custom AI chips, with CEO Hock Tan anticipating a substantial revenue opportunity ranging from $60 billion to $90 billion by fiscal 2027. The company's shares rose significantly as it noted increased business from 'hyperscale' customers and a 220% surge in AI revenue this year. However, concerns remain about future business prospects with key customer Apple, which is moving towards in-house chip development for Bluetooth and Wi-Fi.
Source: YAHOO