Key Points
Broadcom and Meta Platforms have reported accelerated growth largely driven by advancements in artificial intelligence (AI), with Broadcom achieving a 22% increase in revenue to $15.9 billion and Meta generating $51.2 billion, a 26% year-over-year increase, in the third quarter of 2023. Notably, Broadcom’s adjusted earnings per share rose by 36% to $1.69, while Meta’s adjusted EPS climbed 20% to $7.25.
As of now, Broadcom has a market cap of $1.89 trillion and seeks to reach the $3 trillion milestone by generating around $100 billion in annual revenue, projected for 2025. Meanwhile, Meta, currently valued at approximately $1.68 trillion, aims for the same mark by achieving around $355 billion in annual revenue, with market forecasts suggesting revenue growth of 29% for Broadcom and nearly 15% for Meta over the next five years.
