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Broadcom Shares Jump 13.85% After Chipmaker Predicts Surge of AI Sales

Company sees massive opportunity over next three yearsAI revenue reached $12.2 billion in latest fiscal year$Broadcom Inc.(AVGO)$, a chip supplier for Apple Inc. and other big tech companies, rallied

Broadcom Shares Jump 13.85% After Chipmaker Predicts Surge of AI Sales

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{"i18n":{"language":"en_US"},"data":{"magic":2,"id":380985894056072,"tweetId":"380985894056072","gmtCreate":1734045545488,"gmtModify":1734045549267,"author":{"id":4197081388960632,"idStr":"4197081388960632","authorId":4197081388960632,"authorIdStr":"4197081388960632","name":"bagas akabar","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":1,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"html":"<html><head></head><body><p>Very good</p></body></html>","htmlText":"<html><head></head><body><p>Very good</p></body></html>","text":"Very good","highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/380985894056072","repostId":1104510021,"repostType":4,"repost":{"id":"1104510021","kind":"news","pubTimestamp":1734044664,"share":"https://www.laohu8.com/m/news/1104510021?lang=&edition=full","pubTime":"2024-12-13 07:04","market":"us","language":"en","title":"Broadcom Shares Jump 13.85% After Chipmaker Predicts Surge of AI Sales","url":"https://stock-news.laohu8.com/highlight/detail?id=1104510021","media":"Bloomberg","summary":"Company sees massive opportunity over next three yearsAI revenue reached $12.2 billion in latest fiscal year$Broadcom Inc.(AVGO)$, a chip supplier for Apple Inc. and other big tech companies, rallied ","content":"<html><head></head><body><ul style=\"\"><li><p>Company sees massive opportunity over next three years</p></li><li><p>AI revenue reached $12.2 billion in latest fiscal year</p></li></ul><p><a href=\"https://laohu8.com/S/AVGO\">Broadcom Inc.</a>, a chip supplier for Apple Inc. and other big tech companies, rallied in late trading after predicting a boom in demand for its artificial intelligence chips.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/6c3feb70d534a64fdd3286ac842a0489\" tg-width=\"748\" tg-height=\"595\"/></p><p style=\"text-align: start;\">Sales of Broadcom’s AI products will gain 65% in the first quarter, far faster than its overall semiconductor growth of about 10%, the company said during a post-earnings conference call. It also predicted that the addressable market for AI components that it designs for data center operators would reach as high as $90 billion by fiscal 2027.</p><p>Like <a href=\"https://laohu8.com/S/NVDA\">Nvidia Corp.</a>, Broadcom is positioning itself to be a major beneficiary of a spending frenzy. The push includes picking up two major new hyperscaler customers — the biggest operators of data centers — Chief Executive Officer Hock Tan said during the call.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/fb0059c74dbf74f779545afa0cf31209\" tg-width=\"1200\" tg-height=\"675\"/></p><p style=\"text-align: start;\">Investors have piled into Broadcom’s stock this year, betting that the AI craze will fuel a sales surge. The Palo Alto, California-based company had predicted that it would get more than $10 billion in annual revenue from that market, outpacing other parts of its business. Ultimately, the number reached $12.2 billion in the last fiscal year.</p><p style=\"text-align: start;\">AI revenue grew grew 220% during the year, fueled by demand for AI processors and networking components, Tan said. Demand for non-AI chips, meanwhile, will down in the first quarter. Total sales will be $14.6 billion in the period, which runs through January, in line with estimates.</p><p style=\"text-align: start;\">Tan has assembled one of the most valuable companies in the chip industry through a string of acquisitions. He also has built a software unit that’s approaching the scale of its semiconductor operations. That reach makes the company’s forecasts a bellwether for demand over a broad swath of the technology industry.</p><p>Profit was $1.42 a share in the period, excluding some items, the company said. Revenue rose to nearly $14.1 billion. Analysts had estimated $1.39 a share in earnings and revenue of $14.1 billion on average, according to data compiled by Bloomberg.</p><p style=\"text-align: start;\">Data center providers rely on Broadcom’s custom-chip design and networking semiconductors to build their AI systems. The company also sells components for cars, smartphones and internet access gear. Its push into software, meanwhile, includes products for mainframe computers, cybersecurity and data center optimization.</p><p style=\"text-align: start;\">Apple is a top customer of Broadcom and provides key components for the iPhone. During earnings calls, Tan typically gives updates on Broadcom’s often-contentious relationship with that company, which he refers as his “large North American customer” or another vague term.</p><p style=\"text-align: start;\">Bloomberg News reported earlier that Apple would start switching away from a key Broadcom wireless chip starting next year. The iPhone maker has been replacing suppliers’ components with in-house versions, a trend that’s also set to hit chipmaker Qualcomm Inc.</p><p style=\"text-align: start;\">Broadcom’s semiconductor division had revenue of $8.23 billion billion in the three months ended Nov. 3, up 12%. Software sales grew nearly 200% to $5.82 billion. The company is much larger than it was a year ago, partly because of its acquisition of VMware Inc., which it bought for roughly $69 billion.</p><p style=\"text-align: start;\">Prior to the report, analysts raised concerns that Broadcom’s chip design business was suffering from weaker demand. They cited the slower introduction of a new version of a Broadcom processor for Alphabet Inc.</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Broadcom Shares Jump 13.85% After Chipmaker Predicts Surge of AI Sales</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBroadcom Shares Jump 13.85% After Chipmaker Predicts Surge of AI Sales\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-13 07:04 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2024-12-12/broadcom-earnings-top-estimates-after-ai-fuels-sales-growth><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Company sees massive opportunity over next three yearsAI revenue reached $12.2 billion in latest fiscal yearBroadcom Inc., a chip supplier for Apple Inc. and other big tech companies, rallied in late ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2024-12-12/broadcom-earnings-top-estimates-after-ai-fuels-sales-growth\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AVGO":"博通"},"source_url":"https://www.bloomberg.com/news/articles/2024-12-12/broadcom-earnings-top-estimates-after-ai-fuels-sales-growth","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104510021","content_text":"Company sees massive opportunity over next three yearsAI revenue reached $12.2 billion in latest fiscal yearBroadcom Inc., a chip supplier for Apple Inc. and other big tech companies, rallied in late trading after predicting a boom in demand for its artificial intelligence chips.Sales of Broadcom’s AI products will gain 65% in the first quarter, far faster than its overall semiconductor growth of about 10%, the company said during a post-earnings conference call. It also predicted that the addressable market for AI components that it designs for data center operators would reach as high as $90 billion by fiscal 2027.Like Nvidia Corp., Broadcom is positioning itself to be a major beneficiary of a spending frenzy. The push includes picking up two major new hyperscaler customers — the biggest operators of data centers — Chief Executive Officer Hock Tan said during the call.Investors have piled into Broadcom’s stock this year, betting that the AI craze will fuel a sales surge. The Palo Alto, California-based company had predicted that it would get more than $10 billion in annual revenue from that market, outpacing other parts of its business. Ultimately, the number reached $12.2 billion in the last fiscal year.AI revenue grew grew 220% during the year, fueled by demand for AI processors and networking components, Tan said. Demand for non-AI chips, meanwhile, will down in the first quarter. Total sales will be $14.6 billion in the period, which runs through January, in line with estimates.Tan has assembled one of the most valuable companies in the chip industry through a string of acquisitions. He also has built a software unit that’s approaching the scale of its semiconductor operations. That reach makes the company’s forecasts a bellwether for demand over a broad swath of the technology industry.Profit was $1.42 a share in the period, excluding some items, the company said. Revenue rose to nearly $14.1 billion. Analysts had estimated $1.39 a share in earnings and revenue of $14.1 billion on average, according to data compiled by Bloomberg.Data center providers rely on Broadcom’s custom-chip design and networking semiconductors to build their AI systems. The company also sells components for cars, smartphones and internet access gear. Its push into software, meanwhile, includes products for mainframe computers, cybersecurity and data center optimization.Apple is a top customer of Broadcom and provides key components for the iPhone. During earnings calls, Tan typically gives updates on Broadcom’s often-contentious relationship with that company, which he refers as his “large North American customer” or another vague term.Bloomberg News reported earlier that Apple would start switching away from a key Broadcom wireless chip starting next year. The iPhone maker has been replacing suppliers’ components with in-house versions, a trend that’s also set to hit chipmaker Qualcomm Inc.Broadcom’s semiconductor division had revenue of $8.23 billion billion in the three months ended Nov. 3, up 12%. Software sales grew nearly 200% to $5.82 billion. The company is much larger than it was a year ago, partly because of its acquisition of VMware Inc., which it bought for roughly $69 billion.Prior to the report, analysts raised concerns that Broadcom’s chip design business was suffering from weaker demand. They cited the slower introduction of a new version of a Broadcom processor for Alphabet Inc.","news_type":1},"isVote":1,"tweetType":1,"viewCount":27,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":8,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}