AVGO
Broadcom Inc.

Broadcom Inc.AVGO

Technology · Semiconductors
293.69USD
+0.74%
Nov 08, 2026
AVGO overview ready
Supplier of custom AI accelerators and AI networking silicon to hyperscalers
Broadcom is a direct supplier of custom AI accelerators (XPUs/ASICs) and AI networking silicon to large compute customers, while also operating substantial non-AI semiconductor and infrastructure-software businesses.
Primary theme is lagging
AI Compute Semiconductors is lagging (-28.0pp vs SPY over 21 sessions; 0 of 6 members ahead of SPY).
Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of failed reclaim.
The tactical setup reads failed reclaim, but the weekly structure is broken.
Fair valuation
The price broadly reflects the level and quality of its cash generation, with upside and risk reasonably balanced.
Fundamentals under pressure
Ev / sales is weak.
Primary risk
High leverage increasing financial risk.
Market Nov 6Filing Aug 2Price action Nov 7Research Oct 6

Conviction Level

PriceAction3.4BusinessPerformance9.0BusinessQuality8.3Valuation3.6ThemeMomentum1.0Accelerating — Revenue growth has accelerated across 4 consecutive quarters, rising from +28% to +86% year over year. Diluted EPS growth has strengthened to +215% year over year ($2.68), up from +32%. — Accelerating describes growth momentum measured in recent filed quarters. It is not proof that the acceleration will continue.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
vs SPY
−28.0pp
Theme return
−33.0%
Beating SPY
0 of 6
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of failed reclaim.
The tactical setup reads failed reclaim, but the weekly structure is broken.
EntryWeak / unconfirmed recovery

The daily chart may be improving, but the weekly fast averages have not been reclaimed — the recovery is not yet confirmed on the higher timeframe.

Key Financials

Market Cap
$1.4T
Avg Volume (60D)
24.1M
60 sessions
Revenue Growth YoY
+23.9%
FY2025 vs FY2024
Gross Margin
+68.8%
Trailing twelve months
Operating Margin
+48.0%
Trailing twelve months
Free Cash Flow Yield
+2.8%
Distance from 200DMA
-19.8%
Next Earnings
2026-12-09
P/E
36.6x
EV / Sales
16.1x
Market metrics as of Nov 6, 2026
Financial results for the period ended Aug 2, 2026
Filed balance-sheet data as of Aug 2, 2026

Business Performance

Accelerating

Revenue growth has accelerated across 4 consecutive quarters, rising from +28% to +86% year over year. Diluted EPS growth has strengthened to +215% year over year ($2.68), up from +32%.

Latest reported: Q3 FY2026, ended Aug 2
Revenue growthAccelerating
+86%
$29.6B in Q3 FY2026 · YoY
YoY growth, last 4 quarters
  1. +28%
  2. +30%
  3. +48%
  4. +86%
Earnings growthAccelerating
+215%
Diluted EPS $2.68 vs $0.85 a year earlier · GAAP
Diluted EPS YoY (GAAP), last 4 quarters
  1. +93%
  2. +32%
  3. +85%
  4. +215%
Operating marginExpanding
53.9%
+17.0 pp YoY · gross margin 69.1% (+2.0 pp)

Business Quality

8.3 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

Only one valuation perspective could be built for this company, and it reads fair.
Broadcom Inc. has a Fair valuation stance because the price broadly reflects the level and quality of its cash generation, with upside and risk reasonably balanced.

Company Research

Thesis
Broadcom is a direct supplier of custom AI accelerators (XPUs/ASICs) and AI networking silicon to large compute customers, while also operating substantial non-AI semiconductor and infrastructure-software businesses.
Opportunity
Moderate opportunity
Hyperscaler and frontier-model investment in application-specific AI accelerators and associated high-speed silicon, designed to optimize training and inference economics alongside merchant GPU deployments.
Key risk
High leverage increasing financial risk.

Economic classification

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Business & Markets

Technology · Semiconductors
What they do

Broadcom Inc. designs, develops, and supplies semiconductor devices and infrastructure software solutions globally, operating through Semiconductor Solutions and Infrastructure Software segments.

How it earns

Primarily transactional revenue from product sales and licensing of semiconductor and software solutions.

Products & services
Custom silicon solutions
Ethernet switching and routing
Ethernet NIC controllers
Physical layer devices
Fiber optic components
RF semiconductor devices
Connectivity solutions
Custom touch controllers
Inductive charging ASICs
Servers and storage system solutions
Infrastructure software
Customers & end markets
Hyperscale cloud and compute customers
Networking equipment manufacturers
Wireless device makers
Enterprise and data center operators
Market position

Leader in semiconductor solutions with a significant presence in custom AI silicon and infrastructure software.

Demand drivers
Medium cyclicality

Semiconductor demand is influenced by technology cycles and capital spending from large compute customers.

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