Broadcom (AVGO, Financial) shares rose 1% on Monday after Citi analysts, led by Christopher Danely, reaffirmed their Buy rating and $220 price target for Broadcom. Despite the fears over possible regulatory actions that might hamper the export of AI chips to China, Broadcom is up on Monday. Such measures are reportedly being considered by the Biden Administration to affect the third largest ASIC customer of Broadcom, Bytedance.
About 3%- 5% of Broadcom’s estimated revenue for fiscal…
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/cdn.vox-cdn.com/uploads/chorus_asset/file/25829592/mb_ss.width_1000.format_webp.jpeg?w=300&resize=300,300&ssl=1 "Mercedes-Benz’s Virtual Assistant uses Google’s conversational AI agent")