:max_bytes(150000):strip_icc()/GettyImages-2189656773-6722dc71d15d4759ada457d7f264dd1f.jpg?w=1200&resize=1200,0&ssl=1 "Broadcom Stock Jumps as Results, Outlook Show Robust AI Chip Demand")
KEY TAKEAWAYS
- Broadcom shares are surging in premarket trading Friday after the chipmaker posted quarterly results and an outlook that topped analysts’ expectations on the back of robust demand for its artificial intelligence semiconductors.
- The company said its revenue from AI chip sales jumped 77% in the quarter, with projections showing continued improvement in that area.
- Citigroup stuck with its buy rating on the stock “given upside from AI” and $220 price target.
Broadcom (AVGO)…
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https://www.investopedia.com/broadcom-stock-jumps-as-results-outlook-show-robust-ai-chip-demand-11692795
