Broadcom Q1 Revenue Rises 29% with AI Income Up 106% to $8.4B
Broadcom posted fiscal first-quarter revenue of $19.31 billion, up 29%, while AI revenue soared 106% to $8.4 billion. CEO Hock Tan forecasts AI chip revenue exceeding $100 billion by 2027 and has secured HBM supply through 2028, driving analysts to lift price targets up to $500.
1. Fiscal First-Quarter Results
Broadcom reported Q1 revenue of $19.31 billion, marking a 29% increase from the prior year driven by robust demand in its semiconductor segment.
2. AI Revenue Surge and Outlook
Revenue from AI-related products jumped 106% to $8.4 billion, and CEO Hock Tan projected AI chip revenue will surpass $100 billion by 2027.
3. Supply Chain Secured
The company secured high-bandwidth memory and advanced-node manufacturing capacity at Taiwan Semiconductor Manufacturing Co. through 2028 to support long-term AI chip production and mitigate supply risks.
4. Analyst Price Target Raises
Following the earnings, analysts lifted price targets, with forecasts ranging from $480 to $500, reflecting confidence in Broadcom's AI growth and supply-chain positioning.