Broadcom posts strong AI earnings and raises chip outlook for 2027-2028
Broadcom reported sales of $29.25 billion and earnings of $3.21, both above Wall Street expectations. CEO Hock Tan highlighted an AI-driven outlook, with projected chip demand of about $115 billion in fiscal 2027 and $230 billion in 2028, alongside fast growth in AI networking revenue. JP Morgan lifted estimates and kept an Overweight rating.