This blog posting represents the views of the author, David Fosberry. Those opinions may change over time. They do not constitute an expert legal or financial opinion.
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Posted on 20th December 2024 |
Show only this post Show all posts in this thread (Business Ethics). |
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This report on Yahoo! News describes the recent rise in the price of Broadcom shares. Broadcom achieved this by focusing its PR on the ever rising demand for AI chips, which is one of the businesses that they are in. I see this as a cynical attempt to divert investor attention away from the VMWare debacle (described here), in which the company attempted to price gouge what they thought was a captive market, resulting in customers walking away. Luckily, their attempts to manipulate their share price has not been completely successful, as the share price fell after initial rises, as reported by CNBC. Both Broadcom's treatment of VMWare customers, and their attempts to manipulate their share price despite that, are gross failures of business ethics, in my opinion, and I hope that the company pays a price for both. | |