Broadcom Reports $22.19B Revenue Shortfall
Broadcom reported revenues of $22.19 billion in the second quarter, falling short of the expected $22.27 billion. The company reaffirmed its forecast to achieve AI chip sales exceeding $100 billion by fiscal year 2027. Despite this, profits increased to $9.31 billion, with AI revenues growing by 48% compared to the previous year, reflecting strong demand for chips dedicated to this technology. The CEO did not raise the annual sales target of $100 billion, which disappointed investors and led to a decline in the stock price.
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