The PennZone

ALLENTOWN, Pa. - PennZone -- "The AI market is expanding rapidly, with Broadcom expected to see its AI-related revenues exceed $10 billion in 2024, significantly boosting its growth prospects," according to the article entitled "Broadcom: Data Centers, Networking, and Broadband Performance Ahead of 3Q Earnings, recently published on Substack.

"Broadcom is poised to report its fiscal Q3 earnings on September 5th, with strong fiscal Q2 results showing a revenue increase to $9.3 billion and a net income rise to $3.6 billion," noted Dr. Robert Castellano, President of The Information Network and author of the article. "For Q3 2024, Broadcom expects revenues between $8.0 billion and $8.2 billion, with a gross margin forecasted between 65% and 66%, reflecting robust demand and efficient cost management."

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"The global artificial intelligence (AI) market was valued at approximately $142.3 billion in 2023 and is anticipated to experience remarkable growth, with a compound annual growth rate (CAGR) of over 36%. This growth trajectory is expected to propel the market towards nearly $2 trillion by 2030.," added Dr. Castellano.

https://drrobertcastellano.substack.com/p/broadcom-data-centers-networking