Overview
- Broadcom posted fiscal Q4 revenue of $18.02 billion and non‑GAAP EPS of $1.95, exceeding Wall Street estimates.
- Management guided current‑quarter revenue to about $19.1 billion, above the roughly $18.5 billion consensus.
- Executives said a higher AI hardware mix is compressing profitability, with fiscal Q1 gross margin expected to decline by about 100 basis points sequentially.
- The company reported an AI order backlog of about $73 billion to convert over six quarters, down from roughly $110 billion at the end of fiscal Q3, and it withheld full‑year AI revenue guidance.
- The stock fell roughly 11%–13% after the Dec. 11 earnings call, while UBS lifted its price target to $475 and the aggregate rating as of Dec. 17 was Strong Buy with an average target near $462.