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Seaport Research's rationale behind going “Underweight” on Broadcom (AVGO) is built on shaky grounds.
Broadcom's Q1 2026 revenue grew 29% year-over-year to $19.3 billion, beating expectations.
KEY POINTS
- Broadcom commands roughly 80% of the Ethernet switching market as of early 2026.
- The Tomahawk 7 switch, doubling bandwidth to 204.8 Tbps, is projected for 2027 release.
- Broadcom authorized a new $10 billion share repurchase program in Q1 2026.
- Management has visibility to over $100 billion in chip sales for 2027, backed by large contracts.
COMPANIES
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