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Broadcom Inc AVGO Stock Quote

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Morningstar‘s Stock Analysis AVGO

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Broadcom’s Rosy Q4 Outlook Bucks Recent Cautious Commentary From Peers; Shares Undervalued

Abhinav Davuluri, CFA Sector Strategist

Analyst Note

| Abhinav Davuluri, CFA |

Broadcom reported strong fiscal third-quarter results slightly ahead of our expectations. The firm’s results were buoyed by healthy networking demand led by cloud and enterprise data center spending. Despite slowing consumer demand, Broadcom’s networking, storage, and broadband business units have proven resilient, and the firm’s execution on its software acquisitions such as Symantec and CA Technologies is also admirable. We think Broadcom’s wireless segment should also benefit from Apple’s upcoming iPhone launch in the fiscal fourth quarter.

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Key Statistics AVGO

Company Profile AVGO

Business Description

Broadcom--the combined entity of Broadcom and Avago--boasts a highly diverse product portfolio across an array of end markets. Avago focused primarily on radio frequency filters and amplifiers used in high-end smartphones, such as the Apple iPhone and Samsung Galaxy devices, in addition to an assortment of solutions for wired infrastructure, enterprise storage, and industrial end markets. Legacy Broadcom targeted networking semiconductors, such as switch and physical layer chips, broadband products (such as television set-top box processors), and connectivity chips that handle standards such as Wi-Fi and Bluetooth. The company has acquired Brocade, CA Technologies, Symantec's enterprise security business, and has a pending deal to acquire VMware to bolster its offerings in software.

1320 Ridder Park Drive
San Jose, CA, 95131-2313
T +1 408 433-8000
Industry Semiconductors
Most Recent Earnings Jul 31, 2022
Fiscal Year End Oct 31, 2022
Employees 20,000

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