Broadcom Not Immune to U.S-China Trade Tensions, but Long-Term View Unchanged
Narrow-moat Broadcom reported second-quarter results relatively in line with our expectations, and management tempered their outlook for the full year. The reduced guidance was primarily attributed to geopolitical tensions, chiefly between the U.S. and China, and while we were unsurprised by the direction of the guidance, we were slightly taken aback by the magnitude. While the addition of Huawei to the U.S. Entity List is the starkest example of the trade dispute, recent results imply, and mana...Broadcom, via its subsidiaries, is a designer, developer and supplier of a range of semiconductor and infrastructure software solutions. The company develops semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products. The company provides products that are used in end products such as enterprise and data center networking, home connectivity, set-top boxes, broadband access, telecommunication equipment, smartphones and base stations, data center servers and storage systems, and factory automation. The company has three segments: semiconductor solutions, infrastructure software and intellectual property licensing.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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