When Nvidia Wins, Broadcom Climbs: AI Boom Sends Chip Stocks Soaring
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Broadcom Inc's stock is rising following Nvidia Corp's strong quarterly results, with Nvidia reporting a 69% year-over-year revenue increase to $44.1 billion. Broadcom, which has seen a decrease in revenue from China, is expected to benefit from AI chip demand, with projections of significant revenue growth by 2027. Analysts forecast Broadcom's second-quarter revenue at $14.97 billion and EPS at $1.56. Broadcom's stock has surged over 72% in the past year, reflecting strong market confidence in AI technology.
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Source: Benzinga The copyright of this article belongs to the original author/organization.
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