Broadcom Inc. (NASDAQ:AVGO) is one of the Best IT Stocks to Buy According to Wall Street Analysts. On March 4, Broadcom Inc. (NASDAQ:AVGO) announced fiscal Q1 2026, surpassing Wall Street estimates. The company grew its revenue by 29% year-over-year to $19.31 billion along with non-GAAP EPS of $2.05.
Wall Street had expected earnings of $2.02 per share with a quarterly revenue of $19.21 billion. Management noted fiscal Q1 revenue to be driven by strength in AI semiconductor solutions as the AI revenue for the quarter grew 106% year-over-year to $8.4 billion. The growth in this segment was attributed to strong demand for AI accelerators and AI networking.
It further said that it expects fiscal Q2 2026 revenue to grow around 47% year-over-year to reach $22.0 billion, with adjusted EBITDA of 68%. The company also highlighted that its board of directors had authorized a new share buyback of up to $10 billion.
Broadcom Inc. (NASDAQ:AVGO) is a semiconductor and infrastructure software company. It designs and supplies products, including custom chips, networking solutions, and enterprise software used across industries such as cloud computing, telecommunications, and data centers.
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