Goldman Sachs
June 4, 2026
TMT Specialist Sales Update: Broadcom Guidance and AI Thematic Shifts
Daily UpdateEquitiesMacro Economic IndicatorsInformation TechnologyCommunication Services
A daily TMT summary highlighting Broadcom's guidance disappointment, new initiations in European Media, and the impact of geopolitical tension on IT services demand.
Key Takeaways
- 1.Broadcom shares fell 14% after-hours due to AI chip guidance ($16bn for 3Q26) coming in below market expectations ($17.2bn).
- 2.Accenture and broader IT services are seeing a demand slowdown in April/May attributed to prolonged geopolitical disruption.
- 3.Goldman Sachs initiated coverage on the European Media/Internet sector with BUY ratings on Scout24 and Autotrader, but Neutral on Prosus/Naspers.
Table of Contents
- TODAY'S WRAP
- MEDIA
- TECH
- TELCOS
- MEDIA & INTERNET
- MACRO AND TRADING
- 2026 EMEA Conferences
- TMT RESEARCH TEAMS
Document Preview
Access the Full Report
Get unlimited access to institutional research reports with a 14-day free trial.
Authors
Sean Johnstone
Securities
AVGOCRWDSK HynixACNPRX NA
Themes
AI Monetization & ROI FocusGeopolitical Drag on Tech SpendingEuropean Telecom Consolidation
Regions
North AmericaEuropeAsia PacificUnited StatesSpainSouth Korea