AVGO - Consumer Broadband Shining For MaxLinear But Other Businesses Need To Step Up
- Strong demand for consumer broadband drove a strong, better-than-expected, quarter for MaxLinear, with Broadband and Connectivity outperforming on both volume and content growth.
- Management is bullish on the Infrastructure business in wireless backhaul and data center interconnect.
- Time will tell if MaxLinear can start delivering on its bullishness on its PAM-4 interconnect products; I believe MaxLinear will have a more challenging time against Inphi and Broadcom.
- Few chip stocks trade at bargain prices now, but MaxLinear still has some upside, with the magnitude driven in large part by how well the Infrastructure business performs in '21-'23.
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Consumer Broadband Shining For MaxLinear, But Other Businesses Need To Step Up