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. In spite of extreme uncertainty, the report card was solid, as was the company's outlook for the upcoming summer months.
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).
Image source: Broadcom.
Source Fool.com
