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What's Next for Broadcom?

Now that the Qualcomm acquisition appears dead, we expect Broadcom to remain on the hunt for semiconductor M&A.

Securities In This Article
Qualcomm Inc
(QCOM)
Broadcom Inc
(AVGO)

We will maintain our $75 fair value estimate for Best Idea, narrow-moat

We also note a Wall Street Journal report from Friday, suggesting that Intel may make a bid for Broadcom, in an attempt to squash a Broadcom-Qualcomm pairing. We were highly skeptical that such a deal would pass regulatory muster, either for an independent Broadcom or certainly for a combined Broadcom-Qualcomm entity. The executive order may have done the dirty work for Intel and it may no longer find a need to even entertain the thought of bidding for Broadcom going forward.

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About the Author

Brian Colello

Strategist
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Brian Colello, CPA, is an equity strategist for Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc. In addition to leading Morningstar’s technology sector team, he covers semiconductor and hardware companies. Colello was a senior equity analyst before assuming his current role in 2015.

Before joining Morningstar in 2008, he worked in public accounting for KPMG and served as a manager in corporate finance for BMG Music, a subsidiary of Bertelsmann AG.

Colello holds a bachelor’s degree in accounting from Bucknell University and a master’s degree in business administration from Wake Forest. He is also a Certified Public Accountant.

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