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OverviewAPI
Broadcom forecasts revenue below estimates due to weak enterprise spending and fierce competition, leading to a 2.2% stock decline. The company expects $50.0 billion revenue in 2023, below the expected $52.50 billion. The CEO confirmed the divestment of VMware's non-core end-user computing and Carbon Black businesses, while incurring about $1 billion in transition costs related to VMware.

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