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Avago Technologies Expected to Have Larger Role in New iPhone

Keris Alison Lahiff
8/29/14 4:27 PM EDT
Shares of Avago Technologies surged on Friday making it TheStreet's Move of the Day. The semiconductor company reported a better-than-expected third quarter and gave a strong outlook for its wireless unit. Analysts are optimistic the new Apple iPhone will have a big impact on the company’s growth. Investment bank Pacific Crest argues Avago’s wireless components will be double what they were in the iPhone 5s. Avago posted quarterly profits of $1.26 a share in the first full three-month period in which its acquisition of data storage company LSI Corporation acted as a completely integrated division.
Stock quotes in this video: AVGO, AAPL, .DJI, .IXIC, .INX

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