1. Homepage
  2. Equities
  3. United States
  4. Nasdaq
  5. Broadcom Inc.
  6. News
  7. Summary
    AVGO   US11135F1012

BROADCOM INC.

(AVGO)
  Report
Delayed Nasdaq  -  05/20 04:00:01 pm EDT
543.19 USD   -0.55%
05/06TD Synnex to Become Exclusive Symantec Cybersecurity Aggregator Agreement for Broadcom in US
MT
05/03BROADCOM INC. : Back on an important level
05/03Broadcom's Industry-Leading AI, Security and Hybrid Cloud Solutions Accelerate Client Value on New z16 Mainframe
AQ
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Big Tech Faces EU Antitrust Weapon After Broadcom Settles Dispute

10/07/2020 | 09:12am EDT

By Valentina Pop

Europe's top competition official said she would make more use of injunctions, including in pending cases against big technology companies, after successfully forcing U.S. chip maker Broadcom Inc. to change its alleged anticompetitive practices.

The European Commission, the bloc's top antitrust watchdog, on Wednesday said it was closing its probe and accepted Broadcom's legally binding commitments to refrain from any exclusivity arrangements for chips used in television set-top boxes and internet modems over the next seven years.

Broadcom didn't immediately comment on the settlement.

The decision comes a year after EU competition czar Margrethe Vestager revived so-called interim measures, an injunction that hadn't been used since 2001, to order Broadcom to suspend the contested agreements while she was still investigating the case.

Ms. Vestager said she would make more use of this power as she investigates other companies for alleged antitrust violations, including Alphabet Inc.'s Google, Apple Inc., Amazon.com Inc. and Facebook Inc.

"If you have taken out a tool out of a toolbox and have some experience in using it, it's more likely that you'll use it again," she said.

Ms. Vestager has gained notoriety in recent years for leveling record multibillion-dollar penalties on Google and Apple. But those cases started over a decade ago and are still being fought in EU courts, with plaintiffs alleging that their services are still being discriminated against in Google searches.

Her reputation suffered a blow in July when the EU's second-highest court sided with Apple over a EUR13 billion tax bill, a ruling Ms. Vestager is now challenging in the EU's top court.

"Effective competition may not always be best achieved by imposing fines, " Ms. Vestager said Wednesday. "Interim measures prevent irreparable harm from happening while the commission is investigating the case," she said, noting that the Broadcom case was completed in under a year.

Ms. Vestager's stance on big technology companies using their dominant position to quash competitors was seconded Tuesday by a Democratic-led report issued by the U.S. House of Representatives.

"I think it's proof of one of the things I've said a number of times, that the debates have changed a lot on the other side of the Atlantic in the time where I have been dealing with competition law enforcement," Ms. Vestager said, adding that she had sent two submissions to the House probe. "There is some similarity in the way we think about this."

Write to Valentina Pop at valentina.pop@wsj.com

(END) Dow Jones Newswires

10-07-20 0911ET

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. -1.34% 2178.16 Delayed Quote.-24.81%
APPLE INC. 0.17% 137.59 Delayed Quote.-22.52%
BROADCOM INC. -0.55% 543.19 Delayed Quote.-18.37%
META PLATFORMS, INC. 1.18% 193.54 Delayed Quote.-42.46%
All news about BROADCOM INC.
05/06TD Synnex to Become Exclusive Symantec Cybersecurity Aggregator Agreement for Broadcom ..
MT
05/03Broadcom's Industry-Leading AI, Security and Hybrid Cloud Solutions Accelerate Client V..
AQ
05/03Broadcom Inc. Announces Expanding Opportunities for Organizations
CI
05/02Broadcom Inc. to Announce Second Quarter Fiscal Year 2022 Financial Results on Thursday..
PR
04/22Broadcom under Antitrust scrutiny from FTC again - The Information
RE
04/22Broadcom Reportedly Under FTC Investigation on Whether Company Illegally Forced Exclusi..
MT
04/19TRANSCRIPT : Broadcom Inc. - Special Call
CI
04/18BROADCOM INC. : Entry into a Material Definitive Agreement, Creation of a Direct Financial..
AQ
04/18U.S. CEO pay soars 31% on stock and cash awards, study finds
RE
04/15Broadcom Inc. Completes Its Issuance and Sale of $1,950 Million in Aggregate Principal ..
CI
More news
Analyst Recommendations on BROADCOM INC.
More recommendations
Financials (USD)
Sales 2022 32 040 M - -
Net income 2022 10 326 M - -
Net Debt 2022 27 936 M - -
P/E ratio 2022 22,6x
Yield 2022 3,02%
Capitalization 222 B 222 B -
EV / Sales 2022 7,79x
EV / Sales 2023 7,22x
Nbr of Employees 20 000
Free-Float 97,7%
Chart BROADCOM INC.
Duration : Period :
Broadcom Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BROADCOM INC.
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 31
Last Close Price 543,19 $
Average target price 696,46 $
Spread / Average Target 28,2%
EPS Revisions
Managers and Directors
Hock E. Tan President, Chief Executive Officer & Director
Kirsten M. Spears VP, Chief Financial & Accounting Officer
Henry Samueli Chairman
Alan Davidson Chief Information Officer
Charlie B. Kawwas Chief Operating Officer
Sector and Competitors
1st jan.Capi. (M$)
BROADCOM INC.-18.37%221 774
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED-13.82%462 326
NVIDIA CORPORATION-43.24%418 020
INTEL CORPORATION-19.13%170 293
TEXAS INSTRUMENTS-9.90%156 588
ADVANCED MICRO DEVICES, INC.-35.02%151 517