Broadcom Likely Set for Upside to Q2 Results, Oppenheimer Says

MT Newswires Live05-29

Broadcom (AVGO) is poised for upside to its fiscal Q2 results and Q3 outlook on AI-related sales, Oppenheimer said in a Thursday note. The results are due June 3.

The semiconductor segment is expected to grow 20% quarter-on-quarter, led by networking and its six custom application-specific integrated circuit projects, or ASIC, the note said.

Additionally, its software segment is modeled to rise 4% quarter-on-quarter in Q2, with the management seeing AI as demand driver for the software franchise, the note said.

"We believe AVGO has one of the most strategic and financially

attractive business models in the industry," Oppenheimer said, keeping its outperform rating with a $450 price target.

Price: 438.54, Change: +11.96, Percent Change: +2.80

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