Broadcom’s transformation is wild.
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Source: Yahoo Finance
Its reportedly leaked IPO prospectus tells two stories. First, the spending: an $8 billion operating loss in 2025 and more than $500 billion in future commitments, reportedly 80% non-cancelable. Then, the growth: ▪️ 2025 revenue: $4.6 billion ▪️ July 2026 annualized run rate: $65 billion ▪️ 2028 revenue forecast: $200 billion At a $2 trillion valuation, that means: 435x 2025 sales 31x July’s annualized run rate 10x projected 2028 sales But a run rate isn’t annual revenue. And a forecast isn’t a result. Was July repeatable or boosted by unusually large deals? Two customers reportedly generated a quarter of 2025 revenue, without long-term commitments. The valuation looks more digestible with every projection. The challenge is turning those projections into revenue. Source: Dan Runkevicius
MICRON $MU Source: TrendSpider

