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    AVGO   US11135F1012

BROADCOM INC.

(AVGO)
  Report
Real-time Estimate Cboe BZX  -  03:25:21 2023-06-08 pm EDT
804.57 USD   +1.51%
06/06Transcript : Broadcom Inc. Presents at Bank of America 2023 Global Technology Conference, Jun-06-2023 12:30 PM
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06/05DA Davidson Raises Broadcom's Price Target to $897 From $698, Maintains Buy Rating
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06/02Broadcom's Artificial Intelligence Portfolio Underappreciated Growth Opportunity, BofA Says
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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. -0.37% 122.0879 Delayed Quote.44.29%
AMAZON.COM, INC. 2.28% 124.02 Delayed Quote.44.32%
APPLE INC. 1.20% 179.98 Delayed Quote.37.93%
BROADCOM INC. 1.39% 803.64 Delayed Quote.41.76%
META PLATFORMS, INC. 0.59% 265.3999 Delayed Quote.125.30%
All news about BROADCOM INC.
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Analyst Recommendations on BROADCOM INC.
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Financials (USD)
Sales 2023 35 775 M - -
Net income 2023 14 611 M - -
Net Debt 2023 26 807 M - -
P/E ratio 2023 23,2x
Yield 2023 2,32%
Capitalization 327 B 327 B -
EV / Sales 2023 9,89x
EV / Sales 2024 9,16x
Nbr of Employees 20 000
Free-Float 99,5%
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Technical analysis trends BROADCOM INC.
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Mean consensus BUY
Number of Analysts 28
Last Close Price 792,63 $
Average target price 858,84 $
Spread / Average Target 8,35%
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Managers and Directors
Hock E. Tan President, Chief Executive Officer & Director
Kirsten M. Spears Chief Financial & Accounting Officer
Henry Samueli Chairman
Alan Davidson Chief Information Officer
Eddy W. Hartenstein Lead Independent Director
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