Equities

Broadcom

Bullish on Broadcom as the market seems to under-appreciate how durable and diversified its AI exposure is, the upside being present from not only chip designing but also its networking and large recurring revenue from its stable software business after the acquisition of VMware. The thesis is that the current relations with hyperscalers will only grow with the combination of new partners with AI labs, with software cash flows helping offset any cyclicality.

Aryan Nejabati

Co-Head of Strand Global Macro & Head of Macro

26 Mar 2026