Broadcom Is Becoming a Software Stock, Too -- Is It a Top Long-Term Buy?
The long-awaited merger between top semiconductor giant Broadcom (NASDAQ: AVGO) and cloud computing software pillar VMware (NYSE: VMW) is almost complete. Broadcom management has said it expects the tie-up to be finished by the end of October 2023, pending final regulatory sign-off in China.
Once complete, VMware will transform Broadcom from a primarily semiconductor business into one balanced between hardware and software -- and one of the largest enterprise software businesses out there. Is Broadcom stock a buy now?
Even ahead of what will be about a $70 billion takeover of VMware, which should be the largest technology acquisition ever, Broadcom is already a sizable software operation. Though just about 20% of total revenue, Broadcom software is expected to haul in $7.6 billion in fiscal 2023. It's made numerous other purchases of enterprise software companies, building a suite of cloud management and security services to add to its giant semiconductor design and manufacturing prowess.
Source Fool.com
Broadcom Ltd. Stock
The stock is an absolute favorite of our community with 70 Buy predictions and no Sell predictions.
As a result the target price of 1750 € shows a slightly positive potential of 12.54% compared to the current price of 1555.0 € for Broadcom Ltd..
