Broadcom and Nintendo Team Up and 4 Chip and Big Data Stocks on the Move
Broadcom Corp. (NASDAQ:BRCM) and Nintendo jointly developed 5GHz Wi-Fi as a means to support low-latency video and audio transmission between the Wii U console and the Wii U GamePad controller.
QUALCOMM Incorporated (NASDAQ:QCOM) along with Cisco Systems will join their wireless forces behind a system intended to provide easier Wi-Fi services for retail stores along with other venues. Airports, shops, and other areas having Wi-Fi networks assisting customers regarding Internet access has not gotten full value out of their networks. Additionally, Cisco announced a new capability with makes Wi-Fi networks more accessible and valuable to venue owners and customers. The companies hope to allow Wi-Fi network owners to deliver locally relevant information to consumers’ smartphones prior to logging on to a nearby network.
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Rambus Inc. (NASDAQ:RMBS) rating has been increased by JP Morgan from Neutral to Overweight, and the firm decided to keep its $7 price target. JP Morgan stated, “After falling 46% year-to-date (S&P 500 up 8.1%), we think the stock, trading at trough-level multiples, is now largely de-risked. At $4.00-$4.50 we think investors are limited from further downside by the value of SBG contracted revenue (even without renewals) plus cash on hand, and the break-up value of the LED and CRI new businesses. We believe a potential settlement with Hynix presents near-term upside for short-term investors.”
ARM Holdings plc (NASDAQ:ARMH) along with UBM Tech made an announcement regarding the launch of a new digital magazine, called Signum. With the combination of top journalism with the most recent multimedia technology, Signum surpasses traditional print. Multimedia, social media, and mobile user interfaces have been included along with a magazine format allowing a deeper understanding of ARM design strategies, tools, and products.
Rackspace Hosting, Inc. (NYSE:RAX) upgraded its Private Cloud Software, which is named Alamo by adding additional features and enhanced support applications. As part of this release, Rackspace stated that it extended its service portfolio for Rackspace Private Cloud. Rackspace Private Cloud Engineering and Product head Mike Aeschliman stated that the Private Cloud Software is likely to deliver a simple way to deploy a free OpenStack-powered private cloud to customers globally.
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