The semiconductor industry is split into two key components:
- fabs
- engineering design centers
Broadcom is hardly a semi company anymore after all its high-margin software acquisitions (see: VMWare, Computer Associates/"CA Technologies", etc).
Qualcomm doesn't operate any fabs that ship to customers.
Nvidia doesn't make anything.
Many of the others in your list have found profitable niches at scale that are huge value-adds to their customers. The semi space is known for consolidation and many of these players are the last survivor in their field, which lends itself to profitable operations that don't have competitors due to the costs of entry.
- fabs
- engineering design centers
Broadcom is hardly a semi company anymore after all its high-margin software acquisitions (see: VMWare, Computer Associates/"CA Technologies", etc).
Qualcomm doesn't operate any fabs that ship to customers.
Nvidia doesn't make anything.
Many of the others in your list have found profitable niches at scale that are huge value-adds to their customers. The semi space is known for consolidation and many of these players are the last survivor in their field, which lends itself to profitable operations that don't have competitors due to the costs of entry.