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Express News | Pre-Market Trading: Broadcom's post-earnings surge of over 14% drives a collective rise in Semiconductors stocks.
Broadcom's stock price has surged, aiming for a $90 billion market in three years.
Broadcom has delivered impressive Earnings Reports with a surge in AI Chip sales, causing its stock price to jump 10% after hours. The CEO predicts that the AI accelerator and networking market will reach between 60 billion and 90 billion dollars in fiscal year 2027.
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Apple's self-developed Wi-Fi and Bluetooth chips are also coming, codenamed Proxima.
Starting next year, Apple will use its self-developed Bluetooth and Wi-Fi Connection Chip, replacing some components currently supplied by Broadcom. This transformation is unrelated to Apple's highly anticipated Qualcomm cellular modem transition, but the two parts will ultimately work together.
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There are huge opportunities in the AI field! Broadcom's Earnings Reports brought unexpected surprises, with stock prices surging by 15% after hours.
① After the market closed on Thursday Eastern Time, Broadcom announced better-than-expected fourth quarter Earnings Reports, with the stock price soaring over 15% after hours. ② The CEO of Broadcom revealed that they are developing custom AI Chips with three large cloud customers, expecting each customer to deploy 1 million AI Chips by 2027. ③ Broadcom's AI revenue grew by 220% this year to 12.2 billion dollars, and it is anticipated that AI product revenue will increase by 65% year-on-year in the first quarter of fiscal year 2025.
Futu Morning News | The Central Economic Work Conference has set the tone! Next year, the fiscal deficit rate needs to be increased; Broadcom soared over 15% after hours! Q4 profit exceeded expectations.
Inflation unexpectedly accelerates! In November, the USA PPI month-on-month growth rate reached the highest increase since June; AI transformation faces challenges! Adobe's performance forecast fell short of expectations, dropping more than 13% after the earnings report.
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%.
Wall Street is hot on quantum computing stocks, but Google's quantum chip does not actually possess computing power.
Google unveiled its new "quantum chip" Willow this Tuesday, causing its parent company Alphabet and related Stocks to surge significantly this week. However, Analysts indicate that quantum computing is still a long way from any commercial use and advise investors not to get overly excited due to the recent rise.
The Nasdaq fell to 0.02 million points, Adobe plummeted more than 13%, the China concept Index rose against the trend, and Bitcoin dropped below 0.1 million dollars.
In November, USA PPI inflation exceeded expectations, with the market betting on a pause in interest rate cuts in January next year. The Dow has fallen for six consecutive days, with NVIDIA experiencing the largest drop of 2.5%. Tesla, Meta, Google, and Amazon have moved away from their highs, uranium mining stocks have declined, but Apple reached a new high. Broadcom rose nearly 5% in after-hours trading, and Chinese stocks Baidu and PDD Holdings increased by over 1%. Bond yields in Europe and the USA have risen significantly, and after the European Central Bank cut interest rates, the euro fell to a one-week low, before rebounding. The dollar reached a two-week high, while the offshore yuan once rose over 200 points, breaking through 7.26 yuan. Commodities generally fell, with spot gold down over 2% and spot silver down over 4% during the session.
There are huge opportunities in the field of AI! Broadcom's Q4 profits exceeded expectations, with AI revenue doubling in the entire fiscal year, increasing by 220%.
AI demand drives Broadcom's strong profits, with revenue and next-quarter guidance essentially meeting expectations. In fiscal year 2024, total revenue, profits, and Semiconductors revenue all reached new highs. The CEO is bullish on the huge demand for custom AI Chips in the coming years.
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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