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Broadcom (AVGO) sits flat premarket as CEO Hock Tan projects massive AI revenue growth while key technical levels face a test.
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Broadcom, a leading ASIC chip designer, expects its AI semiconductor revenue to double in fiscal 2027 and double again in fiscal 2028. Despite impressive business fundamentals with 48% overall revenue growth and 88% net income growth in Q2 2026, the stock has underperformed the S&P 500, trading at a low 19x forward P/E ratio that doesn't reflect its strong growth prospects.
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