Broadcom Stocks Rise 3.56% as AI Chip Rebound Lifts Custom Silicon Leader

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This article first appeared on GuruFocus. Broadcom (NASDAQ:AVGO) shares gained 3.56% to $301.90 at 10:10 a.m. ET on Friday, November 6, joining a broad chip rebound after Thursday's AI rout. Investors are looking past the panic toward Broadcom's numbers. Those numbers are big. In its last report, Broadcom posted fiscal third-quarter revenue of $29.6 billion, up 86%, with AI semiconductor revenue of $16.7 billion, up 221% year over year and 54% from the prior quarter. For the fiscal fourth quarter, it guided total revenue to about $34.8 billion and AI semiconductor revenue to $21.7 billion, up 236%. Those AI chips go straight into the hyperscaler data centers now facing political scrutiny. Warning! GuruFocus has detected 3 Warning Sign with AVGO.