Broadcom to Buy Back $10 Billion in Shares Following Stock Slide
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Broadcom Inc., a supplier of semiconductors to Apple Inc. and other big tech companies, announced plans to buy back as much as $10 billion in shares, saying it remains confident in the chip industry.
The board has authorized the repurchase through Dec. 31, Broadcom said in a statement Monday. The announcement sent the company’s shares up about 3% in late trading.