Broadcom Inc. (NASDAQ:AVGO) is one of the 10 Unrivaled Stocks of the Next 5 Years. On April 14, Bernstein SocGen Group reiterated its Outperform rating on Broadcom Inc. (NASDAQ:AVGO) with a price target of $525.
This update comes after the company announced its expanded partnership with Meta Platforms, Inc. (NASDAQ:META). Broadcom Inc. (NASDAQ:AVGO) announced a multi-year, multi-generation partnership with Meta to support its custom silicon project, known as MTIA. The partnership includes an initial commitment of more than 1 gigawatt, with plans continuing through at least 2029.
This deal will cover multiple generations of MTIA chips for training and inference, along with networking components. The agreement extends beyond supplying hardware and also focuses on system-level improvements as well as research and development efforts.
Bernstein noted that the size and depth of this deal could make it difficult to manage potential conflicts. The research firm also said that this announcement does not appear significantly incremental to Broadcom Inc.’s (NASDAQ:AVGO) medium-term outlook compared to what the company shared in March. However, Bernstein noted that the 2029 timeline appears to be new.
Broadcom Inc. (NASDAQ:AVGO) is an American multinational technology company that designs, develops, and supplies a wide range of semiconductor, enterprise software, and security solutions.
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