Broadcom jumps as upbeat forecast quells AI chip demand worries

Quick Summary:

Broadcom's shares soared 12 per cent in premarket trading on Friday as the chipmaker's strong revenue forecast helped restore some confidence in AI chip demand after a bruising sector-wide selloff following rival Marvell Technology's bleak outlook".

"Given the anxiety about AI conditions in general, these results should come as a relief," according to Morgan Stanley analysts.

"Perhaps the AI trade isn't as dead as feared ...but amid AI nervousness, (Broadcom) management's view of the future is becoming even more positive," Bernstein analysts said.

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Category: EconomyBusiness

Markets: Singapore

Topics: Forecast Broadcom Shares Revenue Friday Marvell Cent Premarket Chip Nvidia Trading

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-07 @ 18:39:48 (3 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 332 words

Reading Time: 2 minutes read

Sentences: 20 lines

Sentence Length: 17 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 26721131

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