Broadcom surged nearly 14% after hours! Q4 profits exceeded expectations, and AI revenue for the entire year more than doubled with a significant increase of 220%.

Strong profits driven by AI demand have led Broadcom's revenue and next quarter guidance to largely meet expectations. For the fiscal year 2024, total revenue, profits, and Semiconductors revenue all hit record highs, and the CEO is Bullish about the enormous demand for custom AI Chips in the coming years.

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Broadcom's Q4 profit exceeded expectations, with AI revenue doubling and soaring by 220% for the entire fiscal year, rising 15% in after-hours trading | Earnings Reports insights.

AI demand drives Broadcom's strong profits, with revenue and next quarter guidance generally meeting expectations. In the fiscal year 2024, total revenue, profits, and Semiconductors revenue all reach new highs. The CEO is Bullish about the huge demand for custom AI Chips in the coming years. Earlier reports indicated that Apple is close to replacing Broadcom's supply with its self-developed wireless chips for iPhone and home devices, causing Broadcom's after-hours gains to narrow at one point.

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Express News | Broadcom: It is expected that next year, the market size of the company's AI accelerator will be 15 billion to -20 billion dollars.

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