00:00It's hard for me to pinpoint what 26 is going to look like precisely.
00:05So I'd rather not give you guys any guidance.
00:07And that's why we don't give you guidance, but we do give it for Q1.
00:12That was Broadcom's CEO there, Hock Tan.
00:15Bloomberg Intelligence Analyst Matt Bloxham joins us now for more.
00:18Matt, was it the number, the $73 million, billion,
00:22or was it the six quarters that it's going to take to roll this all out?
00:27Yeah, I think it's a mixture of things.
00:28I think it's definitely a bit of frustration
00:31that they're not willing to kind of give a clearer guide on the 2026.
00:36I don't think that's so surprising.
00:38It's not something we typically expect a company to give at this point,
00:42particularly in such a kind of fast-moving market.
00:44And I think the CEO there was trying to kind of give risk to the upside
00:48on that number, that $73 billion likely to grow, not shrink,
00:52but just not trying to kind of get a pin down on any particular number.
00:56And if you look at the Q1 guidance, such, you know,
00:59kind of improving revenue momentum,
01:01a doubling of their AI revenue year on year,
01:06and the better-than-expectations.
01:08I think the other issue that perhaps, you know,
01:10kind of was a bit soft and disappointing for analysts and investors
01:14was the gross margin guide for Q1.
01:18So signalling about 100 basis points squeeze on gross margins
01:22as the product mix shifts more towards AI.
01:27I think they flagged that before,
01:28but I think that's kind of added to the uncertainty
01:31that people are trying to work out in their models
01:34about, you know, A, how much revenue is going to grow,
01:37and B, what's the impact going to be on profitability?
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