Broadcom says it will sell $12 billion in AI parts and custom chips this year
Publishing timestamp: 2024-09-05 18:10:03
Summary
Broadcom reported fiscal third-quarter results that beat Wall Street expectations, with the company expecting to record $12 billion in sales from AI parts and custom chips in fiscal 2024. Despite a net loss for the quarter, Broadcom's stock is up 75% in the past year as investors appreciate the company's role in creating infrastructure for artificial intelligence.
Sentiment: POSITIVE
Tickers: AVGO,
Keywords: breaking news: technology, technology, broadcom inc, business, apple inc, mobile, earnings, business news,
Source: https://www.cnbc.com/2024/09/05/broadcom-avgo-earnings-report-q3-2024.html