VCI Global files to sell 55.26M ordinary shares for holders
16:47 EDT VCI Global (VCIG) files to sell 55.26M ordinary shares for holders
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'The Generative AI market can effectively be divided into three distinct segments: hyper-scalers' internal workloads, consumer adoption and enterprise adoption. For major technology companies, the first two segments (which often overlap) represent existential business priorities and are treated as defensive spending. The third segment is more cyclical, contingent on an acceleration of enterprise adoption rates that remain sluggish,' Harrison noted. At his bottom line, Harrison notes a bullish path, adding, 'We maintain a positive outlook on application-specific integrated circuits (ASICs), specifically because of their exposure to these defensive spending categories. As hyper-scalers and major tech companies invest to protect their competitive positions, ASICs are critical due to their better capital efficiency. By the same token, best-in-class networking providers will benefit from increasing accelerated compute cluster sizes and can assert pricing power while still delivering economic value for customers.' Harrison builds on this thesis to follow the hyperscaler dollars – and to recommend two stocks that will thrive in the AI buildout. According to the TipRanks database, both of his picks hold Strong Buy ratings from the analyst consensus; let's give them a closer look and find out what else makes them solid choices. Broadcom (AVGO) The first Redburn pick we'll look at is Broadcom, one of the semiconductor world's leading companies. Broadcom is a long-standing stalwart of the chip industry – its $1.1 trillion market cap ranks it as the second-largest semiconductor firm, while its $54.5 billion in revenue last year put it in fourth place among its peers. Broadcom has built its reputation on a wide range of product lines, including such items as cable modems; data center switches and routers; ethernet NICs, filters, and amplifiers; fiber optic solutions; and wireless connectivity solutions, to name just a few. These, and other high-end tech devices, have found application in an equally wide range of fields, particularly in data centers. More recently, Broadcom has emerged as a strong player in the ASIC segment. ASICs, or application-specific integrated circuits, are a key technology behind the success of both AI and cloud-based service providers. These chips are custom designed to meet the specific needs of the buyer, allowing for optimized performance on targeted workloads. Compared to general-purpose processors such as CPUs – and in many cases, even GPUs – ASICs can offer superior efficiency, lower power consumption, and faster processing for well-defined tasks. These advantages make them particularly well-suited for the high computational demands of AI and machine learning, especially in large-scale inference and data center environments. On the financial side, we've already noted that Broadcom holds a leading position among its peers when simply counting revenue. The company's most recent quarterly release, which covered fiscal 1Q25 – the quarter ending this past February 2 – showed total revenues of $14.9 billion, up an impressive 24.7% from fiscal 1Q24 and beating the forecast by $330 million. Broadcom's Q1 bottom line, of $1.60 per share by non-GAAP measures, was 9 cents per share better than had been expected. The company realized a free cash flow in the quarter of just over $6 billion, or approximately 40% of revenue. Redburn's Harrison likes Broadcom for its strong ASIC position, seeing that as the company's best path forward. He writes of the chip maker, 'Broadcom is arguably the gold standard of ASICs co-partners for hyper-scalers. 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This company is best known for its position as a provider of networking solutions for large, data-driven, client-to-cloud systems, particularly those used to support AI and data center campus and routing environments. Arista's platforms provide necessary combinations of automation, analytics, and security, based on advanced operating stack technologies. Arista got its start in 2004, and last year celebrated 10 years as a publicly traded entity. The company boasts a market cap of $109 billion, and has more than 10,000 active customers on its books. Those customers choose Arista because of the company's strengths in developing high-end networks. Arista's product lines are based on modularity and scalability, making them relevant for a wide range of applications at any size. Arista's cloud network designs can support anything from 100 to 2,000 servers, and more advanced designs can handle 100,000 or more. The combination of quality with scalability and relative ease of expansion makes the company's network designs highly amenable to AI applications, which are dependent on rapid access and high-speed networks to back up their supercomputing servers. Turning to the financial results, we find that Arista's revenue and earnings have been on an upward trend for the past several quarters. In 1Q25, the last reported, the company's revenue of $2 billion marked a company quarterly record, doubling from the $1 billion milestone achieved just 11 quarters ago. The 1Q25 revenue was up 27% year-over-year, and beat the forecast by $30 million. Arista's earnings in the first quarter were reported as a non-GAAP EPS of 65 cents, which was 6 cents per share above the estimates. This company's strong performance and quality product lines are impressive, and caught Harrison's eye, too. 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(See ANET stock forecast) To find good ideas for stocks trading at attractive valuations, visit TipRanks' Best Stocks to Buy, a tool that unites all of TipRanks' equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment. Disclaimer & DisclosureReport an Issue Sign in to access your portfolio
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