Zacks Investment Research named Broadcom its 'Bull of the Day.' Broadcom develops custom AI accelerators for hyperscale companies including Google and Meta. The company challenges Nvidia by focusing on custom silicon to accelerate growth.
AI-related revenue grew 106% year-over-year in the last quarter. AI sales account for 44% of total revenue.
Broadcom reports a $73 billion AI-specific order backlog. Upward earnings revisions support its Zacks Rank #1 (Strong Buy) rating.