The post Broadcom (AVGO) Stock Climbs as AI Chip Sales More Than Double in First Quarter appeared on BitcoinEthereumNews.com.

Key Takeaways First quarter revenue reached $19.3 billion, representing 29% annual growth and setting a company record Artificial intelligence revenue more than doubled, climbing 106% to $8.4 billion and exceeding internal projections Second quarter outlook calls for $22 billion in total revenue, including $14.8 billion from AI operations Morgan Stanley upgraded its price objective to $470 from $462 while maintaining an Overweight stance Wall Street analysts forecast potential AI revenue reaching $120 billion by fiscal year 2027 Shares of Broadcom (AVGO) finished March 5 trading at $322.77, marking a 4.8% gain following the chipmaker’s fiscal first quarter 2026 earnings release. The stock has experienced modest declines since that session and continues trading below its year-to-date starting point. Broadcom Inc., AVGO The company delivered quarterly revenue of $19.31 billion, surpassing Wall Street’s $19.18 billion projection and establishing a new high-water mark. Earnings per share on an adjusted basis reached $2.05, topping the Street’s $2.03 estimate. The headline figure came from artificial intelligence operations — $8.4 billion in revenue representing 106% year-over-year expansion and exceeding the company’s own internal forecasts. Custom AI accelerator chip revenue drove much of this performance, skyrocketing 140% from the prior-year period. Revenue from AI networking products increased 60%, with management indicating that networking growth should accelerate significantly in the current quarter thanks to Tomahawk Ethernet switching technology and SerDes product lines. Adjusted EBITDA expanded 30% annually to $13.1 billion, translating to margins of 68% relative to revenue. Gross profit margins settled at 77%, down from 79.1% in the year-ago quarter but showing sequential stability. Focus Shifts to Custom AI Chip Performance Semiconductor solutions revenue climbed 52% year-over-year to $12.5 billion overall. Traditional non-AI chip revenue, by contrast, expanded just 4% — highlighting where the company’s growth engine truly resides. Infrastructure software revenue increased modestly by 1% to…

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Filed under: News - @ March 8, 2026 3:24 pm