Broadcom Anticipates AI Demand Will Counterbalance Weakness in Other Areas
Broadcom Inc., a chip supplier for Apple Inc. and other major tech companies, forecasted that AI spending would drive growth at a faster pace than previously anticipated this year, despite slower demand in other sectors impacting semiconductor sales. The company’s semiconductor division posted revenue of $7.39 billion in the first fiscal quarter, Broadcom said Thursday, missing analysts’ forecast of $7.7 billion. Still, the chipmaker will continue to post $50 billion in sales for the 2024 fiscal year, which ends in October. That’s in line with its earlier prediction. While the…
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