:Broadcom Inc forecast fourth-quarter revenue above estimates on Thursday as the semiconductor company expects resilient demand from businesses going digital to help it weather a likely chip industry slowdown.Shares of the company rose 2.4 per cent to $503 in extended trading after third-quarter results also
:Broadcom Inc forecast fourth-quarter revenue above estimates on Thursday as the semiconductor company expects resilient demand from businesses going digital to help it weather a likely chip industry slowdown.
"From our vantage point, infrastructure demand is still very much holding," Chief Executive Officer Hock Tan told analysts. Rivals Intel, Advanced Micro Devices, Qualcomm and Nvidia Corp have all issued demand warnings as consumers spend less on PCs, gaming devices and smartphones in the face of red-hot inflation.
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Broadcom forecasts upbeat revenue on strong data center, wireless demandSemiconductor company Broadcom Inc forecast fourth-quarter revenue above Wall Street targets on Thursday, banking on strong demand for its chips used in servers and networking equipment. Shares in the company rose 2.4 per cent to $503 after the bell.Chip firms such as Broadcom are likely to benefit
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