Broadcom's AI Chips Forge Ahead Unlocking Billions in Tech Potential, Analysts Say
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Piper Sandler analyst Harsh V. Kumar reiterated an Overweight rating on Broadcom (NASDAQ:AVGO) with a price target of $1,650. Kumar hosted a meeting with AVGO’s management and noted AVGO as a premier player in the generative AI computing space. Management sized a potential 1 million unit cluster as a $50 billion opportunity. Broadcom is 1-1.5 years ahead of the competition in the Switch Products category. The company has significantly intensified its investments in this space. The XPU business’s gross margins are slightly lower than those of the traditional silicon business. Broadcom could be in pole position for the next generation of custom chips with these customers. Barclays analyst Tom O’Malley maintained Broadcom with an Overweight rating and raised the price target from $1405 to $1500. AVGO shares traded lower by 2.63% at $1,294.09 on the last check Wednesday.
#Broadcom #AiChips #TechPotential #Analysts #PiperSandler #Barclays
https://markets.businessinsider.com/news/stocks/broadcom-s-ai-chips-forge-ahead-unlocking-billions-in-tech-potential-analysts-say-1033259339
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2024-04-17 22:54:30
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2024-04-17 22:54:30Event JSON
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"content": "Broadcom's AI Chips Forge Ahead Unlocking Billions in Tech Potential, Analysts Say\n==========\n\nPiper Sandler analyst Harsh V. Kumar reiterated an Overweight rating on Broadcom (NASDAQ:AVGO) with a price target of $1,650. Kumar hosted a meeting with AVGO’s management and noted AVGO as a premier player in the generative AI computing space. Management sized a potential 1 million unit cluster as a $50 billion opportunity. Broadcom is 1-1.5 years ahead of the competition in the Switch Products category. The company has significantly intensified its investments in this space. The XPU business’s gross margins are slightly lower than those of the traditional silicon business. Broadcom could be in pole position for the next generation of custom chips with these customers. Barclays analyst Tom O’Malley maintained Broadcom with an Overweight rating and raised the price target from $1405 to $1500. AVGO shares traded lower by 2.63% at $1,294.09 on the last check Wednesday.\n\n#Broadcom #AiChips #TechPotential #Analysts #PiperSandler #Barclays\n\nhttps://markets.businessinsider.com/news/stocks/broadcom-s-ai-chips-forge-ahead-unlocking-billions-in-tech-potential-analysts-say-1033259339",
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