Citigroup: Increased capital expenditures by tech giants will be a boon for chip manufacturers

Citigroup analysts pointed out that the increased capital expenditures by tech giants will be a boon for chip manufacturers. It is estimated that Microsoft accounts for about 8% of AMD's sales, while Meta accounts for 2% of Broadcom's sales. The analysts wrote in a report on Thursday: "We believe that Broadcom and AMD will be the main beneficiaries of the increased capital expenditures from Microsoft and Meta."