Avago Technologies’ (AVGO) efforts to diversify its product portfolio appear to be paying off, as its stock hit a record high Friday after its Q3 earnings and Q4 outlook beat. The company has set its sights on selling more chips to leading smartphone makers such as Apple (AAPL) and on tapping into a major shift to 4G wireless in China, prompting it to offer a better-than-expected revenue outlook for the current quarter. The Singapore-based
Avago Technologies late Thursday posted its fifth consecutive quarter of rising growth in both revenue and earnings minus items, fueled by an acquisition aimed at “reshaping the company” and sales to smartphone makers. Avago (AVGO) customers include smartphone leaders Apple (AAPL) and Samsung, which both buy Avago’s radio-frequency chips, according to UBS Investment Research. The Singapore-based chipmaker is also getting a boost from the rollout
Avago Technologies’ (AVGO) fiscal Q3 earnings, set to be reported after the market close Thursday, could provide insight into how the company’s recent acquisitions are shaping up. The Singapore-based maker of radio-frequency chips for mobile devices is expected to post a fifth straight quarter of earnings and revenue gains. Avago has estimated revenue of $1.3 billion to $1.4 billion for the quarter ended on or near Aug. 4, more than double the