Broadcom Inc (AVGO), the semiconductor design company focused on artificial intelligence (AI) applications, could be significantly undervalued based on its strong free cash flow (FCF) and FCF margins. Over the next year, AVGO could be worth at least 21% more than its closing price of $1,325.41 on March 28, or $1,60.72 per share. Moreover, existing shareholders can take advantage of this situation by holding AVGO long-term and shorting out-of-the-money (OTM) put options in nearby expiry periods. That way they can gain extra income to enhance the stock’s low 1.58% dividend yield. I discussed thi…