Broadcom rides on AI chip demand to deliver upbeat revenue forecast

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ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/broadcom” target=”_blank”>Broadcom forecast third-quarter revenue above Wall Street estimates on Thursday, betting on strong demand for its networking and custom AI computing chips.

However, the company’s shares fell 4% in extended trading, after gaining about 12% this year, as the forecast failed to impress investors who have bet heavily on chip stocks, anticipating substantial growth driven by advancements in ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/generative-ai-technology” target=”_blank”>generative AI technology.

Broadcom forecast third-quarter revenue of around $15.80 billion, compared with analysts’ average estimate of $15.71 billion, according to…



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Broadcom rides on AI chip demand to deliver upbeat revenue forecast


ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/broadcom” target=”_blank”>Broadcom forecast third-quarter revenue above Wall Street estimates on Thursday, betting on strong demand for its networking and custom AI computing chips.

However, the company’s shares fell 4% in extended trading, after gaining about 12% this year, as the forecast failed to impress investors who have bet heavily on chip stocks, anticipating substantial growth driven by advancements in ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/generative-ai-technology” target=”_blank”>generative AI technology.

Broadcom forecast third-quarter revenue of around $15.80 billion, compared with analysts’ average estimate of $15.71 billion, according to…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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