Market Cap first broke one trillion dollars! Broadcom surged over 22% at one point, reaching a historic high, with Wall Street's highest Call targeting $250.
In the earnings call, Broadcom CEO Hock Tan stated that the market demand for custom AI Chips is expected to be between 60 billion to 90 billion dollars by 2027.
Express News | UBS Group raised the Target Price for Broadcom from $200 to $220.
Broadcom Price Target Raised to $250.00/Share From $210.00 by JP Morgan
Is Broadcom about to lose a big order? It is reported that Apple will switch to self-developed Wi-Fi chips for iPhone and home products starting next year.
Media reports that Apple plans to use its self-developed chip combining Wi-Fi and Bluetooth for the new iPhone, Apple TV, and HomePod mini next year, and for iPads and Macs in 2026. One-fifth of Broadcom's fiscal year revenue comes from Apple, making it the largest supplier of Apple's Wi-Fi/Bluetooth chips. After the news broke, Broadcom's stock price hit a daily low, falling nearly 4%.
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