Heading into Broadcom’s (AVGO) Q1 earnings report, one topic has influenced the semiconductor industry, creating plenty of angst among investors: namely, supply chain limitations and the likelihood of clients stockpiling chips, artificially inflating demand in the process. Competitor Marvell (MRVL) fueled these concerns on Wednesday, reporting mediocre quarterly results as CEO Matt Murphy also predicted that supply chain issues will persist at least through this year.On the other hand, AVGO CEO Hock Tang used a different approach towards last night’s earnings conference call, saying that the company has enough production from outsourced providers to meet demand. This comment is supported by AVGO’s solid quarterly guidance and results.As expected, the wireless business cashed in on Apple’s (AAPL) iPhone 12 launch. Typically, AVGO would receive the benefits from new device launches in Q4, but the delayed iPhone 12 launch pushed a considerable amount of wireless revenue out of Q1 this year. Therefor, this quarter represented the seasonal peak for wireless with returns increasing by 52% annually, mainly in order with AVGO’s bullish prediction from the previous quarter. Fueled by strong demand from data center and cloud computing providers, business also remains well in the networking department. For the quarter, revenue climbed 15% with sustained strength, reflected by an 80% leap in bookings.