Broadcom CEO Says Non-AI Markets Reached Bottom -- Market Talk

Dow Jones09-06

1037 ET - Broadcom has reached bottom in its non-AI markets, CEO Hock Tan says on a call with analysts. The chipmaker expects a recovery in 4Q, but it remains disciplined on how it manages inventory across ecosystem. "We've gone through a typical down-cycle of semiconductors, and I'm referring particularly to non-AI," the executive says. The broader ecosystem is adjusting inventory levels at all stages in the supply chain, and Broadcom hasn't been immune to it, Tan says. "We've gone through it, and our--the signs, the indications we have seen very clearly is, we have in fact passed through the bottom." Shares fall 9.1% to $138.88. (sabela.ojea@wsj.com; @sabelaojeaguix)

(END) Dow Jones Newswires

September 06, 2024 10:37 ET (14:37 GMT)

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