Broadcom Shares Jump as AI Growth Fuels Upbeat Forecast
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Broadcom Inc. shares jumped after the chip supplier for Apple Inc. and other big tech companies gave an upbeat forecast, reassuring investors that spending on artificial intelligence computing remains healthy.
Sales will be about $14.9 billion in the three-month period ending May 4, Broadcom said in a statement Thursday. Analysts had estimated $14.6 billion on average, with some projections surpassing $15.1 billion.