Broadcom's stock jumps 6% on $100 billion chip sales forecast
Business
CEO Hock Tan said he believes the company could achieve chip sales worth $100 billion in 2027.
CEO Hock Tan made the remarks in the company's post-earnings call, where Broadcom's stock jumped 6% in after-hours trading.
Their revenue forecast for this quarter is $22 billion—beating what analysts expected.
Broadcom is making waves in the AI chip market
Broadcom is stepping up its game against NVIDIA by building custom AI chips, and big names like OpenAI and Anthropic are already on board.
They've also developed a TPU for Google and announced a $10 billion share buyback, which gave their stock another boost.
Even though shares are down 8% this year overall, these moves have investors paying attention—and could help Broadcom stay ahead in the chip race.