By Geoffrey Seiler
Publication Date: 2026-03-07 21:46:00
Broadcom (AVGO 0.54%) once again reported strong artificial intelligence (AI) revenue growth when it released its fiscal 2026 Q1 results this week. While the stock got a lift from the news, shares are still down year to date, as of this writing.
Let’s take a closer look at Broadcom’s results and prospects to see if the semiconductor stock is a buy.
Image source: Getty Images.
AI momentum continues for Broadcom
Broadcom continues to see strength in both its networking and custom AI chip businesses, as its total AI revenue climbed 106% year over year in fiscal Q1 to $8.4 billion, above its expectations. Its custom AI ASIC (application-specific integrated circuit) business saw revenue surge by 140%, while AI networking revenue climbed 60%. It expects its networking revenue growth to materially accelerate in Q2, led by its Tomahawk Ethernet switch and SerDes (Serializer/Deserializer) products.
For fiscal Q2, it is looking for its AI revenue to increase by 76% to $14.8 billion….
