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Bigger Role in iPhone 6 Seen for Avago Technologies

Shares of Avago Technologies surged on Friday making it TheStreet's Move of the Day.

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.