Broadcom Earnings: Impressive Outlook for AI Revenue

Key Morningstar Metrics for Broadcom

What We Thought of Broadcom’s Earnings

Broadcom AVGO reported October-quarter revenue of $14.1 billion, up 8% sequentially. In the longer term, management also estimated its serviceable addressable market for artificial intelligence chips at its three largest customers to be $60 billion-$90 billion in fiscal 2027.

The bottom line: We’ve raised our fair value estimate for Broadcom to $190 per share from $155 as we raise…