From Financial Modeling Prep: 2024-12-13 08:25:00

Broadcom’s stock surged 17% in pre-market trading after strong revenue guidance and a bullish outlook on custom AI chips. Q4 earnings per share were $1.42 on revenue of $14.05 billion, slightly beating EPS estimates but just missing revenue expectations. Semiconductor revenue hit $30.1 billion for fiscal 2024, with AI sales at $12.2 billion, up 220% YoY.

The company projected Q1 revenue of $14.6 billion, above Wall Street’s $14.55 billion estimate. Management is highly confident in the AI market’s potential, with a projected SAM of $60-90 billion by fiscal 2027. Jefferies raised Broadcom’s price target to $225, citing clarity in AI revenue and growth potential in xPU clusters as key drivers of investor interest.



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