Broadcom reported better-than-expected third quarter results as revenue growth was driven by Ethernet networking and custom accelerators for AI data centers.
Expect Software Giant Hunters To Soon Be The Hunted In A Digital Giant's Quest For Growth
Six of the Magnificent Seven (Microsoft, Apple, Nvidia, Alphabet [Google], Amazon, Meta [Facebook]) stocks have entered the four comma club -over $1 trillion in market cap. With a combined market cap of over $13.2 trillion, these six players continue to defy physics with continuous quarters of double digit organic growth. Digital giants by definition have deployed five key strategies:
Broadcom's first quarter results were better-than-expected as technology buyers plan to closely watch comments about retaining VMware customers. Broadcom's chip business continues to benefit from the AI buildout.
