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博通Broadcom Inc.(AVGO)2025财年10-K年度报告「NASDAQ」(英文版)(113页).pdf

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1、Table of ContentsUNITED STATES SECURITIES AND EXCHANGE COMMISSIONWashington,DC 20549Form 10-K(MARK ONE)ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934For the fiscal year ended November 2,2025ORTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCH

2、ANGE ACT OF 1934For the transition period from to Broadcom Inc.Delaware3421 Hillview Ave001-3844935-2617337(State or Other Jurisdiction of Incorporation or Organization)Palo Alto,CA94304(Commission FileNumber)(I.R.S.Employer Identification No.)(650)427-6000(Exact Name of Registrant as Specified in I

3、ts CharterAddress of Principal Executive Offices,Including Zip CodeRegistrants Telephone Number,Including Area Code)Securities registered pursuant to Section 12(b)of the Act:Title of Each ClassTrading Symbol(s)Name of Each Exchange on Which RegisteredCommon Stock,$0.001 par valueAVGOThe NASDAQ Globa

4、l Select MarketSecurities registered pursuant to Section 12(g)of the Act:NoneIndicate by check mark if the registrant is a well-known seasoned issuer,as defined in Rule 405 of the Securities Act.Yes No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or

5、 Section 15(d)of the Act.Yes No Indicate by check mark whether the registrant(1)has filed all reports required to be filed by Section 13 or 15(d)of the Securities Exchange Act of 1934during the preceding 12 months(or for such shorter period that the registrant was required to file such reports),and(

6、2)has been subject to such filingrequirements for the past 90 days.Yes No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T(232.405 of this chapter)during the preceding 12 months(or fo

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1. **公司定位**:Broadcom Inc.是全球技术领导者,设计、开发半导体和基础设施软件解决方案,业务涵盖AI数据中心、网络、无线设备、存储等领域。 2. **核心业务**: - **半导体解决方案**:包括网络连接(以太网交换/路由、NIC)、无线设备(RF前端、Wi-Fi/蓝牙)、服务器存储(PCIe、SSD控制器)五大市场。 - **基础设施软件**:提供私有云(VMware Cloud Foundation)、主frame软件、网络安全(Symantec)、企业软件等。 3. **财务数据**:截至2025年5月2日,非关联股东持股市值约9392亿美元;2025年11月28日,普通股流通股数达474.1亿股。 4. **研发与制造**:全球约33,000名员工,57%从事研发;制造外包给台积电等,内部生产III-V半导体(如FBAR滤波器)。 5. **客户与风险**:前五大客户占净收入约40%;依赖供应链,面临竞争加剧及政府监管(如环保、出口管制)风险。
**AI芯片市场?** **软件护城河?** **供应链风险?**
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