Avago Technologies (AVGO) late Wednesday beat Wall Street’s fiscal Q4 earnings forecast and Q1 outlook, prompting numerous analysts on Thursday to raise their price targets on the chipmaker’s stock. “We believe Avago’s industry-leading proprietary FBAR (film bulk acoustic resonator) filter portfolio, strong position with Apple (AAPL) and Samsung and growing sales to the China LTE smartphone OEM base position the company to benefit from our
Corning (GLW), the maker of “Gorilla Glass” used in Apple’s (AAPL) iPhone screens, has agreed to buy Samsung Electronics’ fiber-optics business. The acquisition will expand Corning’s business ties in Asia, the company said. Financial terms were not disclosed. “The transaction, which we believe adds an estimated $200 million to $220 million in annual sales to Corning’s top line, should help the company bulk up its Asian operations and should be
Samsung, HTC and other smartphone makers will follow Apple’s (AAPL) lead with the iPhone 6 and increase flash memory in mobile phones, raising demand for chips from SanDisk (SNDK), says Citigroup in a report. Joe Yoo, a Citigroup analyst, initiated coverage on SanDisk with a buy rating and price target of 125. SanDisk’s stock has shot up 43% in 2014. SanDisk closed at 101.31 on Tuesday. Yoo also expects SanDisk to garner an EPS lift from currency