**Broadcom’s Record Growth Amid AI Shift**
Broadcom reported record revenue of $18 billion for Q4 2023, marking a 28% year-over-year increase. This growth is largely driven by strong demand for its AI semiconductors, with revenue from AI solutions surging 74% to $6.5 billion. The company projects AI sales to climb another 104%, reaching $8.2 billion.
As energy efficiency becomes a priority among hyperscale computer users, Broadcom’s application-specific integrated circuits (ASICs) are positioned as economical alternatives to Nvidia’s GPUs. Broadcom’s backlog also hit a record $162 billion, a 47% increase from the previous quarter, indicating robust future revenue potential. Analysts forecast a 42% upside in Broadcom’s stock, with 96% recommending it as a buy or strong buy.
