Broadcom Readies Billions for "Opportunistic Buybacks"

Semiconductor supplier Broadcom (NASDAQ: AVGO)was more than ready to make a major acquisition earlier this year, offering to purchase Qualcomm (NASDAQ: QCOM)in a staggering deal valued at more than $100 billion. But management's tone has shifted. While a large acquisition still could be in the cards for Broadcom, management is adding another option for its free cash flow: buy back $12 billion worth of its own stock.