Broadcom (AVGO) Gives Upbeat Forecast After AI Deals Fuel Growth
Bloomberg.com••business
Key Points:
- Broadcom Inc.'s shares dropped about 5% after hours due to investor disappointment over its AI sales outlook, which fell short of high expectations.
- CEO Hock Tan reported a $73 billion backlog in AI product orders to be fulfilled over the next six quarters, a figure seen as underwhelming by some investors.
- Tan emphasized that the $73 billion backlog is a minimum estimate, attempting to reassure investors about the company's AI market potential.
- The stock decline reflects investor pressure on Broadcom to deliver a larger payoff in the competitive AI computing sector, where it competes with Nvidia Corp.
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