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Broadcom forecasts fourth-quarter revenue above Wall Street expectations

Published 01/09/2023, 06:19 am
Updated 01/09/2023, 06:23 am
© Reuters. The Broadcom Limited company logo is shown outside one of their office complexes in Irvine, California, U.S., March 4, 2021.  REUTERS/Mike Blake
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© Reuters. The Broadcom Limited company logo is shown outside one of their office complexes in Irvine, California, U.S., March 4, 2021.  REUTERS/Mike Blake

(Reuters) - Broadcom (NASDAQ:AVGO) forecast fourth-quarter revenue slightly above Wall Street estimates on Thursday, on optimism generative artificial intelligence will keep demand for its AI networking chips solid and an expected boost in sales from Apple (NASDAQ:AAPL) iPhone launch.

The chip company expects current-quarter revenue to be about $9.27 billion. Analysts on average expect revenue to be $9.28 billion, according to Refinitiv data.

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