Should Broadcom Be in the "Magnificent Seven?"
At first glance, Broadcom (NASDAQ: AVGO) does not look like a "Magnificent Seven" stock. The Magnificent Seven name, coined by Bank of America analyst Michael Hartnett in 2023, largely featured household names such as Apple and Amazon. Broadcom, by contrast, is a B2B company, and many investors know little about it.
Nonetheless, its $590 billion market cap now exceeds that of Magnificent Seven stock Tesla (NASDAQ: TSLA). Given the continual growth in its revenue, dividend, and stock price, investors should ask if it deserves recognition as one of tech's top stocks.
Broadcom began as the semiconductor company Avago Technologies. It differed from other chipmakers because it explicitly targeted businesses, employing engineers near its top clients to collaborate on chip designs that met its customers' needs. Though numerous tech companies work with Broadcom, its best-known chip is the Wi-Fi hotspot chip in the iPhone.
Source Fool.com
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