The chipmaker now needs to prove it can follow through to become another giant of the artificial intelligence era.
Broadcom shares have soared 38% in the two trading days since it reported results, pushing the company's market capitalization to nearly $1.2 trillion. At the heart of the rally is Broadcom's prediction that the addressable market for AI components it designs for data center operators will be as big as $90 billion by fiscal 2027. But there's a lot to be done to turn that opportunity into reality.
"This is kind of like the Nvidia moment of maybe a year-and-a-half ago where they blew the number out and everybody had to catch up and chase it," said Ken Mahoney, CEO at Mahoney Asset Management, which owns the stock. Broadcom is showing investors that the demands from AI computing are so big that there's plenty of room for other winners aside from Nvidia, Mahoney said.
Denne historien er fra December 18, 2024-utgaven av Financial Express Ahmedabad.
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Denne historien er fra December 18, 2024-utgaven av Financial Express Ahmedabad.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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