Broadcom Just Handed the Cloud and Internet Infrastructure Industry Some Good News
Networking hardware and software management giant Broadcom (NASDAQ: AVGO) reported Thursday on its fiscal 2020 second quarter, which included the worst of the global coronavirus crisis. Not entirely unexpected was the news that demand from networking customers — including cloud computing and network storage — rose when the world was shoved further down the digital road because of work-from-home and shelter-in-place. What was unexpected was Broadcom’s top brass reporting that demand for some products has grown so great that it’s having difficulty keeping up, offset by a sharp drop in smartphone demand and a right-sizing of the company’s network software portfolio (which was patched together via its acquisitions of Brocade, CA Technologies, and most recently Symantec).
