Broadcom Eyes $12B in AI Chip Revenue for 2024, Hyperscaler Spending Surge: Goldman Sachs
AVGOBroadcom(AVGO) Benzinga·2024-09-13 19:55

Goldman Sachs analyst Toshiya Hari reiterated a Buy rating on Broadcom Inc AVGO with a price target of $190.Hari listed his critical takeaways from Broadcom President Dr. Charlie Kawwas’ presentation at the Communacopia & Technology Conference 2024.Dr. Kawwas expects increased spending by the large Tier-1 hyperscalers will drive growth in Broadcom’s AI semiconductor business in fiscal 2025.Broadcom has positively revised its fiscal 2024 AI semiconductor revenue outlook from $7.5 billion at the beginning of ...