投资者期待更高AI回报，博通盘前跌5%

Core Viewpoint - Broadcom is competing with Nvidia for revenue in the artificial intelligence (AI) computing sector, but its sales outlook for this hot market has not met investor expectations, leading to a decline in its stock price [1][8]. Group 1: Sales Outlook and Orders - Broadcom currently holds $73 billion in AI product orders, expected to be delivered over the next six quarters, although this figure disappointed some investors [1][9]. - CEO Hock Tan clarified that the $73 billion is a "minimum value," and the final order size is expected to be much higher as more orders are fulfilled [1][9]. - The company did not provide revenue guidance for its AI business for 2026, describing it as a "dynamic target" [2][10]. Group 2: Financial Performance - For the first quarter of fiscal year 2026, Broadcom expects sales to reach $19.1 billion, exceeding analyst expectations of $18.5 billion [3][11]. - The company raised its quarterly dividend by 10% to $0.65 per share [3][11]. - In the fourth quarter, Broadcom received a $11 billion order from AI startup Anthropic and an additional $1 billion order from another unnamed client [3][11]. Group 3: AI Business Growth - Broadcom's AI semiconductor business revenue is projected to double year-over-year, reaching $8.2 billion [4][12]. - The company has established partnerships with leading AI model providers, including OpenAI, which will use Broadcom's custom AI chip designs [4][12]. - Despite growth in AI computing revenue, Broadcom still lags behind Nvidia in the AI processor market [14]. Group 4: Stock Performance - Broadcom's stock closed at $406.37, with a year-to-date increase of 75% [5][13]. Group 5: CEO Incentives - If the AI business meets long-term financial goals, CEO Hock Tan could receive substantial stock rewards, with potential earnings of 610,521 shares if revenue reaches $90 billion by fiscal year 2030 [7][15].