|Day's range||26.47 - 26.50|
After suffering painful declines in 2022, many tech stocks surged higher beginning late last year and into the first quarter of 2023. The company first became known as a business-to-business chip provider, collaborating with large clients to meet their needs. In 2018, it also began to diversify into enterprise software, and its proposed acquisition to buy VMware for $61 billion would dramatically enlarge that segment.
Britain's Competition and Markets Authority said earlier this month that Broadcom's acquisition of the cloud computing and virtualisation company could drive up the cost of computer parts and software for servers. It said on Wednesday that Broadcom had declined to offer any undertakings in the five-day period after it published its concerns, and it would therefore proceed to an in-depth inquiry, which can take up to six months.
By Scott Kanowsky