Broadcom shares exceeding expectations for 12 consecutive months

<img width="250" height="141" src="https://www.leaprate.com/wp-content/uploads/2023/11/FIN-LP-Broadcom-scoops-up-VMware-for-69bn-after-Chinese-regulatory-approval-iStock-1173622964-250×141.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2023/11/FIN-LP-Broadcom-scoops-up-VMware-for-69bn-after-Chinese-regulatory-approval-iStock-1173622964-250×141.jpg 250w, https://www.leaprate.com/wp-content/uploads/2023/11/FIN-LP-Broadcom-scoops-up-VMware-for-69bn-after-Chinese-regulatory-approval-iStock-1173622964-700×394.jpg 700w, https://www.leaprate.com/wp-content/uploads/2023/11/FIN-LP-Broadcom-scoops-up-VMware-for-69bn-after-Chinese-regulatory-approval-iStock-1173622964-768×432.jpg 768w, https://www.leaprate.com/wp-content/uploads/2023/11/FIN-LP-Broadcom-scoops-up-VMware-for-69bn-after-Chinese-regulatory-approval-iStock-1173622964-120×68.jpg 120w, https://www.leaprate.com/wp-content/uploads/2023/11/FIN-LP-Broadcom-scoops-up-VMware-for-69bn-after-Chinese-regulatory-approval-iStock-1173622964-245×138.jpg 245w, https://www.leaprate.com/wp-content/uploads/2023/11/FIN-LP-Broadcom-scoops-up-VMware-for-69bn-after-Chinese-regulatory-approval-iStock-1173622964-500×281.jpg 500w, https://www.leaprate.com/wp-content/uploads/2023/11/FIN-LP-Broadcom-scoops-up-VMware-for-69bn-after-Chinese-regulatory-approval-iStock-1173622964.jpg 1365w" sizes="(max-width: 250px) 100vw, 250px" /><p>Analysts observe that the 12 consecutive months of exceeding expectations have been spurred on by the rapidly growing demand for artificial intelligence (AI) chips, mainly GPUs, which are provided by tech giants such as Nvidia, and semiconductors.</p>
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<p>Hans Mosesmann, analyst at Rosenblatt Securities, suggested that the rise in AI products has offset the decreased demand for telecommunications products, which, for Broadcom, offers a favourable outlook for the next decade. Mosesmann and BMO Capital analyst Ambrish Srivastava both assigned a buy rating to Broadcom’s stock with a price target of $1,000.</p>
<p>Broadcom’s recent acquisition of <a href="https://www.leaprate.com/news/broadcom-scoops-up-vmware-for-69bn-after-chinese-regulatory-approval/" target="_blank" rel="noopener">VMware</a>, a cloud computing and tech virtualisation company, has contributed to investor confidence; however, on Wednesday, Broadcom announced its plans to lay off many VMware transferring employees. Alternatively, employees have been offered new, shorter fixed-term contracts with shorter hours with a mandatory office-work policy.</p>
<p>The company predicts a revenue of $9.27bn year-over-year ahead of its Q4 results.</p>
<p>The post <a rel="nofollow" href="https://www.leaprate.com/forex/data/broadcom-shares-exceeding-expectations-for-12-consecutive-months/">Broadcom shares exceeding expectations for 12 consecutive months</a> appeared first on <a rel="nofollow" href="https://www.leaprate.com">LeapRate</a>.</p>