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Broadcom Slashes Its Revenue Forecast Because the Trade War Hurts
Barrons.com
Eric J. Savitz
,Barrons.com•June 13, 2019
Broadcom apparently is feeling the effects of the U.S. crackdown on Huawei, one of the company’s largest customers. For the full fiscal year, Broadcom chopped its revenue outlook to $22.5 billion, from $24.5 billion and reduced the outlook for capital spending to $500 million, from $550 million. “We currently see a broad-based slowdown in the demand environment, which we believe is driven by continued geopolitical uncertainties, as well as the effects of export restrictions on one of our largest customers,” Tan said, presumably referring to Huawei. |
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