Broadcom
Broadcom Inc. – Common add to watchlist. We’re looking for a switch to Algo Engine buy conditions with the $250 – $300 price range.
Strong Q1 beat across the board: Broadcom delivered Non-GAAP EPS of $2.05 and revenue of $19.31B (+29.4% YoY), exceeding expectations on both metrics.
AI demand is the key driver: Growth was fuelled by custom AI accelerators and AI networking, with AI revenue accelerating significantly.
Bullish forward guidance: Q2 revenue expected at $22B (above $20.4B consensus), AI revenue at $10.7B, and EBITDA margins of ~68%, signalling continued momentum.
