Broadcom Ltd is a global technology company that designs, develops, and supplies a wide range of semiconductor and infrastructure software solutions. The company specializes in producing chips that facilitate communication and data processing across various devices and networks, including those used in smartphones, enterprise storage systems, broadband access, and data centers. Additionally, Broadcom offers software solutions that enable businesses to optimize their operations, manage network security, and enhance performance across cloud-based and on-premises environments. Through its comprehensive portfolio, Broadcom plays a critical role in advancing connectivity and computing technologies in various industries.
Fabless chip and software maker Broadcom (NASDAQ:AVGO) missed Wall Street’s revenue expectations in Q3 CY2024, but sales rose 51.2% year on year to $14.05 billion. Its GAAP profit of $0.90 per share was 28.2% above analysts’ consensus estimates.
Retail chatter has spiked to a year-high on Stocktwits as retail investors debate Apple’s relationship with Broadcom amid different reports ahead of its fourth-quarter earnings.
Stock market indexes had a down day from the start: higher producer prices from November’s PPI report and a notable increase in Weekly Jobless Claims ahead of the open today set the scene.
Broadcomm (AVGO) to report Q4 earnings on Thursday with expected EPS of $1.38 and revenues of $14.10B. Stock up 70.85% in past year, 22.50% in past 6 months.
Risk sentiment soured on Thursday following hotter-than-expected producer inflation data, which dampened optimism for aggressive interest rate cuts in 2025.
Shares of fabless chip and software maker Broadcom (NASDAQ:AVGO)
jumped 5.5% in the morning session after reports revealed that the company is collaborating with Apple, the maker of the iPhone, to create its first server chip specifically designed for artificial intelligence tasks. The news highlights the growing trend of tech giants shifting to in-house chip manufacturing. It also showcases Broadcom's expertise in AI chip design, potentially drawing more attention to the company alongside rivals like Nvidia and AMD.
