“Broadcom designs custom AI accelerators, networking and broadband chips, and sells infrastructure software including VMware.”
🐂 Bull
- Custom AI chips and networking ride hyperscaler build-outs
- Revenue grew +86% YoY last quarter ($16.0B → $29.6B)
- 54% GAAP operating margin last quarter
🐻 Bear
- Heavy debt from the VMware deal and customer concentration
- Net debt $35.4B ($59.4B debt vs $24.0B cash + ST inv)
- Stock comp $7.6B = 12% of FY revenue
What changed
Quarter revenue $29.6B, +86% YoY; operating income $16.0B vs $5.9B a year ago (+171%).
AVGO · Broadcom Inc.
Hardware & Semis · ★ Legendary · Power 90/100 · CIK 0001730168
What it does
Broadcom designs custom AI accelerators, networking and broadband chips, and sells infrastructure software including VMware. Large hyperscalers buy its custom silicon and Ethernet switching for AI clusters.
What changed
10-Q for the period ending 2026-08-02, filed 2026-09-10 0001730168-26-000080
Quarter revenue $29.6B, +86% YoY; operating income $16.0B vs $5.9B a year ago (+171%).
- Revenue (qtr to 2026-08-02): $29.6B (+86% YoY) 0001730168-26-000080
- Operating income (qtr to 2026-08-02): $16.0B (+171% YoY) 0001730168-26-000080
- Operating cash flow (FY to 2025-11-02): $27.5B (+38% YoY) 0001730168-25-000121
🐂 Bull case
- Custom AI chips and networking ride hyperscaler build-outs
- Revenue grew +86% YoY last quarter ($16.0B → $29.6B) 0001730168-26-000080
- 54% GAAP operating margin last quarter 0001730168-26-000080
🐻 Bear case
- Heavy debt from the VMware deal and customer concentration
- Net debt $35.4B ($59.4B debt vs $24.0B cash + ST inv) 0001730168-26-000080
- Stock comp $7.6B = 12% of FY revenue 0001730168-25-000121
🚩 Red flags
- 💸 Insider selling: ~$531M of open-market sales in 10 of 20 Form 4s since 2026-04-18 0001104659-26-078348, 0001104659-26-110983, 0001359561-26-000004
- ⛓️ Debt: $59.4B debt vs $24.0B cash + ST investments 0001730168-26-000080
⚡ AVGO event cards
10-year history PRO
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How the power level is computed
Power (0–100) = Growth 25 × clip(quarter revenue YoY ÷ 30%) + Profit 25 × clip(quarter GAAP operating margin ÷ 30%) + Cash 20 × clip(FY free cash flow ÷ FY revenue ÷ 25%) + Fortress 15 (full if cash + short-term investments ≥ debt, else 15 × clip(1 − net debt ÷ FY revenue); half if debt isn't tagged) + Dilution 15 (full if diluted shares flat/down YoY, 0 at +5%). Missing inputs get half credit. Banks and insurers get a Financials frame: their score isn't comparable.
Not investment advice. Ticker Card summarizes public SEC EDGAR filings, which can be restated or late. No stock prices. Every number cites the filing's accession number. Source: SEC EDGAR.