Broadcom Inc., a chipmaker that supplies Apple Inc. and other large electronics makers, gave a lackluster forecast, as weak demand for smartphone parts overshadowed rising orders from data center owners.
Revenue in the three months ended in July will be $5.75 billion, plus or minus $150 million. That compares with an average analyst prediction of $5.77 billion, according to data compiled earlier on Thursday by Bloomberg.
The San Jose, California-based company makes chips that filter radio signals and provide WiFi connections in iPhones and other smartphones. With much of the world’s population confined to their homes, handset demand has dropped. Broadcom is also a key supplier of switch chips, the complex semiconductors that manage data traffic in networking equipment, an area where demand is surging.
Read more: Smartphone Shipments Projected to Fall a Record 12% in 2020