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Reuters
Broadcom sees upbeat first-quarter sales, unveils $10 billion buyback plan
Analysts have pointed to strong near-term demand for Broadcom’s radio frequency and wireless chips as telecom firms spend more to roll out 5G technology, and continued strength in its broadband division. Broadcom is also poised to benefit from higher demand for its data-center and server chips, aided by a rise in hybrid working models and a rapid shift to cloud by businesses during the pandemic. Broadcom has also diversified beyond its core chip business and forayed into the lucrative software arena, at a time when the world grapples with supply chain disruptions and an industry-wide chip shortage.
