's (NASDAQ: AVGO) stock has surged 45% since the beginning of the year. The diversified chip and infrastructure software company impressed the market with its stable growth, a new multiyear deal with Apple (NASDAQ: AAPL), and the potential benefits from its planned takeover of cloud software giant VMware (NYSE: VMW).

But should investors still buy Broadcom after that massive rally, which outpaced the Philadelphia Semiconductor Index's 38% gain during the same period? Let's review Broadcom's business model, growth rates, and valuations to decide.

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Source Fool.com