NEW YORK ( TheStreet) - Qualcomm (QCOM - Get Report) kicked off 2011 with the year's first big tech acquisition, buying chipmaker Atheros (ATHR) for $3.1 billion, in a deal which could help Qualcomm compete more effectively with Broadcom(BRCM) and Intel(INTC - Get Report) .Atheros, which makes chipsets for wireless devices like laptops and tablets, is a longstanding Qualcomm partner. Atheros shares surged nearly 19% Tuesday after the deal was announced. Qualcomm's stock rose about 1%.
Qualcomm's Atheros Deal: Weekly Tech Recap
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.