Broadcom Gives Downbeat Forecast, Signaling Sluggish Chip Demand

09/01/2023 06:45
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Broadcom Gives Downbeat Forecast, Signaling Sluggish Chip Demand

Broadcom Inc., a supplier of chips to Apple Inc. and a broad swath of the tech industry, gave a disappointing forecast for the current period, signaling that demand remains sluggish for electronic components.

  • AI boom is benefiting company, but not at same scale as Nvidia
  • Company is contending with slower demand for smartphones

WATCH: Stacy Rasgon, Bernstein Research senior analyst, reacts to Broadcom earnings. Source: Bloomberg

Broadcom Inc., a supplier of chips to Apple Inc. and a broad swath of the tech industry, gave a disappointing forecast for the current period, signaling that demand remains sluggish for electronic components.

Revenue will be about $9.27 billion in the fiscal fourth quarter, the company said Thursday in a statementBloomberg Terminal. That compares with an average Wall Street estimate of $9.28 billion, with some analysts predicting as much as $9.8 billion. The projected gain would be the slowest since 2020.

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Broadcom Gives Downbeat Forecast, Signaling Sluggish Chip Demand

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