Broadcom Hones In On Custom ASICs For Growth
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Broadcom's fiscal year 2024 ended with strong growth in networking chips, driven by custom AI ASICs and improved server & storage chip performance. The integration of VMware significantly boosted Broadcom's revenue and margins. Management forecasts continued growth in AI accelerators and networking, with a serviceable addressable market of $60–90 billion by FY27.
December 16, 2024 | 10:30 am
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Broadcom's FY24 saw strong growth in networking chips, driven by custom AI ASICs and improved server & storage chip performance. The integration of VMware boosted revenue and margins, with management forecasting continued growth in AI accelerators and networking.
Broadcom's strong performance in FY24, driven by custom AI ASICs and improved server & storage chip performance, indicates a positive outlook. The integration of VMware has significantly boosted revenue and margins, and management's forecast for continued growth in AI accelerators and networking suggests a positive short-term impact on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100