Broadcom’s Software Makeover Doesn’t Fully Mask Chip Swings
Broadcom Chief Executive Hock Tan isn’t someone who finds blowing money appetizing. But that $40,000 dinner seems to have gone down well. That was the reported cost for Tan to sit at the table of Chinese President Xi Jinping during a dinner at last month’s Asia-Pacific Economic Cooperation conference in San Francisco. It is a notable sum for an executive known for running one of the most tightfisted chip companies in the business. Broadcom spends just 4% of its annual revenue on sales and marketing—compared with 11% on average by companies on the PHLX Semiconductor Index. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8