Broadcom Begins LTE Development and 4 Chip and Big Data Stocks on the Move
Intel Corporation (NASDAQ:INTC): Validity Sensors announced that Intel Capital Corporation has completed a strategic investment as part of their Series E Financing. Intel’s investment combined with additional strategic investments from World Fair and DDS brings the total Series E capital commitments to over $22 million. This follows an initial closing on October 4 led by TeleSoft Partners that included full participation from Qualcomm Ventures (NASDAQ:QCOM), VentureTech Alliance (NYSE:TSM), Panorama Capital and Crosslink Capital.
Broadcom Corp. (NASDAQ:BRCM) said that they will start developing Long Term Evolution, or LTE, baseband chips. The company added that they will begin to provide samples of such chips to their top customers next year.
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QUALCOMM Incorporated (NASDAQ:QCOM) will introduce a chip next year that will allow smartphone owners to pay for merchandise by tapping their devices on a cash register or credit card reader. The San Diego wireless leader announced their first near-field communication semiconductor which was developed by their Qualcomm Atheros division based in San Jose. Up until now, Qualcomm has stayed out of the NFC business as they waited to see if the technology would take hold and this left the market open to Broadcom and other rivals.
ARM Holdings PLC. (NASDAQ:ARMH) has made an impressive gain of 31.6% so far in 2012 and the stock recently staged an amazing breakout above longtime resistance in the $28-$32 neighborhood.
Rackspace Hosting, Inc. (NYSE:RAX): J.P Morgan Chase started share coverage of Rackspace Hosting. The firm issued an overweight rating and a $83.00 price target on their stock.
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