Broadcom's Stock Soars as Earnings Show Just How Much AI Has Helped the Business
Express News | Broadcom Shares up 14% Premarket After Co Forecasts Quarterly Revenue Above Estimates
Major ratings丨Jefferies Financial: Upgraded Broadcom's Target Price to $225, believing the market will regain interest in it.
Jefferies published a research report indicating that Broadcom's growth guidance for the first fiscal quarter of next year aligns with expectations, with AI revenue last quarter growing by 18% quarter-on-quarter to 3.7 billion dollars, higher than the firm's forecast of 3.5 billion dollars, mainly driven by Networking AI. Management revealed that clients plan to deploy 1 million xPU clusters. Jefferies stated that looking ahead to the growth of AI ASIC chips, the company's AI revenue could reach between 60 billion and 90 billion dollars by fiscal year 2027. The firm noted that while more AI development trends may not be seen until the second half of next year, there is confidence that the market will react positively.
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