What's more, as with Broadcom, Avago also has a strong networking business, which grew in the recent quarter by 16% year over year, helped by better-than-expected shipments of Cisco ( CSCO) equipment. However, and perhaps even more impressive than the revenue growth, is that with the 19% sequential surge in operating income, Avago is turning itself into a strong profit producer. On a non-GAAP basis, that figure was closer to 21%, which was enough for a 9% beat. Another thing to consider is that given how strong of a quarter this was, management still raised guidance -- suggesting the company doesn't expect this momentum will be stunted anytime soon. Although Qualcomm has a strong lead in this market and offers similar-to-greater advantages in its partnerships with Apple and Samsung, I believe the near-term share gain opportunities are greater in Avago. Follow @saintssense This article was written by an independent contributor, separate from TheStreet's regular news coverage.