Excluding these AI-related sales, semiconductor sales have largely stabilized around the $6 billion level and management continues to think that a "soft landing" is still in the cards.
In fact, networking revenue was up 20% versus the year ago period and now represents 40% of revenue at the company's semiconductor segment.
Elsewhere within semiconductor solutions, wireless revenues (24% of segment revenue) were flat year-over-year, as was revenue for server storage connectivity (17% of segment revenue).
Broadband sales (16% of segment revenue) moderated to 1% year-over-year growth following nine-consecutive quarters of double-digit growth.
Industrial sales (about 3% of segment revenue) were down 3% year-over-year.
Persons:
Hock Tan, Tan, Jim Cramer's, Jim Cramer, Jim, Broadcom Lucas Jackson
Organizations:
Semiconductor, Broadcom, Revenue, VMWare, Club, Management, Outlook Management, CNBC