Broadcom's VMware Deal and AI Exposure Could Make It a Magnificent Seven Contender
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Broadcom recently acquired VMware, transforming itself into an almost equal mix of semiconductors and software. This unique profile could propel it into the "Magnificent Seven".
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VMware's new hybrid cloud platform is seeing strong double-digit revenue growth, benefiting from partnerships like Nvidia.
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Broadcom dominates networking semiconductors that enable AI computing and is growing its custom ASIC chip business that supports AI accelerators.
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Broadcom has high margins, innovation capabilities and exposure to generative AI like some Magnificent Seven companies.
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With software and an AI boost, reasonable valuation multiples and dividends, Broadcom could vault into the elite group of tech stocks.