Broadcom stock rallies as CEO Tan makes strong case for why AI growth will last [CNBC]
Broadcom Inc. (AVGO)
Last broadcom inc. earnings: 3/12 04:15 pm
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Source: CNBC
Tan managed to convince investors that Broadcom has a sustainable growth trajectory and said memory capacity is secured through 2028. Broadcom's results benefited copper connectivity technology makers such as Amphenol and Credo. In this article Broadcom 's stock surged about 5% on Thursday as CEO Hock Tan touted strong demand for the company's chips amid the artificial intelligence boom. He told analysts on Wednesday that he anticipates AI chip revenue in 2027 that's “significantly in excess of $100 billion” as demand mounts for designing custom silicon. That far surpassed many bullish estimates from Wall Street analysts, who now anticipate more potential upside after Tan said the company is nearing 10 gigawatts of capacity between six customers. Analysts at JPMorgan estimate that the company can reach between $12 billion and $15 billion in revenue per gigawatt by 2027 and lifted the firm's AI revenue estimates “conservatively” to $120 billion or more. The company's “le
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