Earnings Report Preview | Strong Demand for AI Chips, Broadcom Expected to Achieve Double Growth in Q2
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Broadcom is expected to announce its second-quarter results on Thursday, with analysts predicting revenue of $15.02 billion, a year-on-year increase of 20%, and adjusted net profit of $7.8 billion. Demand for artificial intelligence chips is strong, with AI business revenue expected to grow by 42% year-on-year. Oppenheimer analysts raised the target price from $225 to $265, with all 13 analysts giving a "buy" rating. Broadcom's stock price rose by 2.74%, closing at $248.71, with a year-to-date increase of 7.6%
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