Broadcom's Momentum Continues, but Stock Slides. Is It Time to Buy the Stock?

Broadcom (NASDAQ: AVGO) ended its fiscal year riding strong momentum from increasing artificial intelligence (AI) infrastructure demand. However, the stock slipped after CEO Hock Tan clumsily answered a question about customer-owned tooling, which is the risk that customers would take the bulk of the design work in-house and forgo using Broadcom.Let's take a closer look at Broadcom's recent results to see if this dip is a buying opportunity.Both Broadcom's networking and custom AI chip businesses performed well to close out its fiscal year. It saw its fiscal Q4 AI revenue soar 74% to $6.5 billion and projected that it would double in fiscal Q1 to $8.2 billion. Meanwhile, it noted a $73 billion AI backlog consisting of custom AI chips and networking components that it will fulfill over the next 18 months. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool