Broadcom shares rise due to strong sales forecast

Jamie McKane

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Broadcom shares rise due to strong sales forecast

Chipmaker Broadcom Inc. gave a strong sales forecast for next year thanks to heavy spending by cloud providers.

The company’s wireless business, a key Apple Inc. supplier, performed better than expected in the quarter that ended Nov. 4. Chief Executive Officer Hock Tan suggested that was driven by demand for older iPhones, but also warned of a "downtick" in the current quarter.

[Bloomberg]
 
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