Broadcom Earnings Results Show AI Strength: 6 Analysts Deep Dive Into Print, Outlook
Portfolio Pulse from Priya Nigam
Broadcom Inc's (NASDAQ:AVGO) shares fell after the company reported its fiscal third-quarter earnings. Analysts from BMO Capital Markets, Rosenblatt Securities, KeyBanc Capital Markets, Benchmark, Evercore, and Raymond James provided their insights on the earnings release. While the company's AI business is growing, it is experiencing moderation in enterprise and telco spending. The company's quarterly results were slightly disappointing due to enterprise/teleco weakness. However, the company's year-on-year growth in the quarter was driven mainly by AI revenues, which contributed more than $1 billion.
September 01, 2023 | 2:54 pm
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POSITIVE IMPACT
Broadcom has cleared several key regulatory hurdles in its VMware deal, which is expected to close by October 30, 2023.
Broadcom's deal with VMware, which is expected to close by October 30, 2023, has cleared several key regulatory hurdles. This could potentially boost Broadcom's future earnings.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50
NEUTRAL IMPACT
Broadcom is benefiting from the Nvidia compute effect, which is stressing data center network scale-out.
Broadcom is benefiting from the Nvidia compute effect, which is stressing data center network scale-out. This could potentially lead to increased demand for Broadcom's products.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Broadcom's Q3 earnings report led to a drop in its share price. The company's AI business is growing, but it is experiencing a slowdown in enterprise and telco spending.
Broadcom's shares fell after the company reported its Q3 earnings. The company's AI business is growing, but it is experiencing a slowdown in enterprise and telco spending, which could impact its future earnings.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100