Reported about 1 month ago
Broadcom Inc., a key supplier for major tech firms like Apple, saw its stock drop after revealing a disappointing sales outlook, attributing the decline to slower growth in its non-AI sectors. The company expects approximately $14 billion in sales for the upcoming fiscal quarter, slightly below analyst expectations. While artificial intelligence-related revenues are projected to exceed forecasts, Broadcom's other divisions struggle to keep pace, prompting concerns over future performance despite CEO Hock Tan's optimism for recovery in these areas.
Source: YAHOO