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Broadcom Soars 8% on Record AI Chip Sales

3/9/2025

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Summary

Story summary

Broadcom's shares jumped over 8% following impressive quarterly results, fueled by a 77% rise in AI chip sales.
The company achieved adjusted earnings of $1.60 per share and revenue of $14.92 billion, surpassing expectations.
Citigroup upheld a buy rating with a $220 price target, highlighting AI growth potential.
Broadcom anticipates $14.9 billion in revenue for the next quarter, reflecting sustained demand for AI infrastructure.

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Story summary

Broadcom's shares jumped over 8% following impressive quarterly results, fueled by a 77% rise in AI chip sales.
The company achieved adjusted earnings of $1.60 per share and revenue of $14.92 billion, surpassing expectations.
Citigroup upheld a buy rating with a $220 price target, highlighting AI growth potential.
Broadcom anticipates $14.9 billion in revenue for the next quarter, reflecting sustained demand for AI infrastructure.