Broadcom is one of the best long-term plays on the booming chip and software markets.

As investors, we shouldn't put all of our eggs in one basket. While a single stock might outperform the market for a few years, it could run out of steam. It's smarter to diversify your portfolio across one or two dozen stocks in different sectors, or simply invest in an S&P 500 index fund or exchange-traded fund (ETF).

But if I were forced to choose a single stock and hold it for the next decade, I'd probably pick Broadcom ( AVGO 8.65% ) . Let's see how this diversified tech giant expanded and evolved over the years, and why it could continue to beat the market.

A brief history of the "new" Broadcom

Avago, a chipmaker based in Singapore, acquired the original Broadcom in 2016. Before that a

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