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Broadcom, a chip supplier for tech giants like Apple, reported disappointing revenue from its semiconductor business despite AI-driven demand. Marvell's stock dropped 10% due to lower-than-expected sales and EPS forecasts. Broadcom's Q1 earnings beat estimates, attributed to the VMware deal and AI product demand, with full-year guidance slightly below consensus. AI revenue for Broadcom quadrupled in Q1 to $2.3 billion. Despite strong network solutions revenue, Broadcom's semiconductor segment growth lagged estimates, while Marvell forecasts downbeat results due to weak enterprise demand. Broadcom expects $10 billion in AI chip sales in 2024, with shares dipping despite beating analysts' targets.
The #DrillDownByte: one number that tells us a whole lot about Broadcom's earnings, in one-minute. https://t.co/HgXnkSf8kN $AVGO šļø @DrillDownPod #DrillDownEarnings @FuturumGroup #DDE
"despite headwinds associated with product mix in the Semiconductor business (i.e. increase in revenue derived from custom silicon vs. merchant silicon), Broadcom reported industry-leading gross margins (75%) and operating margins (57%) in FY1Q" $AVGO https://t.co/PX1mjkUSj2
The role of silicon in @Broadcomās network-centric AI capabilities š¤ Chipmaking giant Broadcom Inc. topped Wall Streetās estimates for its fiscal first-quarter sales yesterday, benefiting from cloud infrastructure providers upgrading their data centers to support artificialā¦
