AVGO · suggested 22 Jun
Broadcom makes the networking chips and the custom AI chips that the big cloud companies design with it, and it also owns a large software business in VMware. It is picks and shovels for AI compute: it gets paid as the data centres get built, whoever wins. We like it for its huge cash generation, its grip on custom AI silicon, and a growing dividend.
Where this sits in the cycle
Half the story rides the data-centre spending cycle, the other half is steady software revenue, which softens the swings a chip name usually has. Chips are cyclical, but AI demand has turned that into a longer, steadier run for now. The risk is a pause in cloud spending, which would hit the chip side first.
The diary
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AVGO · suggested 22 Jun
329,17 USD
-16,1% since suggestion at 392,13 USD
Measured in the same money, the pick is -16,1% against -6,3% for iShares Global Tech Index, the bet to beat, over the same stretch.
Daily closes, the newest refreshed through the trading day.
Today the price sits 7% below its 50-day average and 11% below its 200-day average.