1425 ET - Broadcom's growth in AI revenue could prove to be conservative if AI investments continue at these high rates, Morgan Stanley analyst Joe Moore says in a research note. The chipmaker should see growth of 25% next year, to just above $15 billion of AI revenue, Moore says. Still, here's a chance it could grow ahead of expectations, Moore adds. Shares drop 9.6% to $138.17, on pace for the largest percent decrease since March 18, 2020, when it fell 16%.(sabela.ojea@wsj.com; @sabelaojeaguix)
(END) Dow Jones Newswires
September 06, 2024 14:25 ET (18:25 GMT)
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