Bank of America resets Broadcom stock price target
Broadcom reported its Q4 earnings on November 11.
During the earnings call Hock Tan, president and CEO of Broadcom, said:
“Our custom-accelerated business more than doubled year-over-year, as we see our customers increase adoption of XPUs, as we call those custom accelerators, in training their LLMs and monetizing their platforms through inferencing APIs and applications.”
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Revenue of $18 billion, up 28% year over year
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GAAP net income of $8.5 billion, up 97% YoY
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Adjusted EBITDA of $12.2 billion or 68% of revenue, up 34% YoY
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GAAP diluted EPS of $1.74, up 93% YoY
Marvell Technology, Broadcom’s competitor in semiconductor design, recently announced that it will acquire Celestial AI. Celestial AI is a…
