Broadcom’s Chip FIRST 5G Wi-Fi and 3 Tech Stocks Sink
Broadcom Corp. (NASDAQ:BRCM) has become the first wireless chip manufacturer to design what is being called 5G Wi-Fi. Though the new standard will not raise the data speed coming through the “Internet pipes” to the home, like DSL or fiber optic cables would, it will allow individuals to watch and stream video which has already been stored on PCs or DVRs way more quickly.
QUALCOMM Incorporated’s (NASDAQ:QCOM) move toward restructuring echoes a former attempt to spin off Qualcomm’s chip unit from its licensing unit. The goal is the same, to protect Qualcomm’s large royalty stream from dilution due to cross-licensing deals imperative to gain chip IP. On the other hand, CEO Paul Jacobs states that Qualcomm will not stop considering building its own future chip plants or “writing big checks” as a means to guarantee capacity, since it is wrestling with supply problems from TSMC’s (NYSE:TSM).
EMC Corporation (NYSE:EMC) along with Purdue will begin a five-year relationship that both addresses the issue of student and faculty digital file storage and develops solutions which can be adapted throughout all higher education.
Seagate Technology PLC (NASDAQ:STX) and Western Digital’s (NYSE:WDC) HDD estimates have been reduced by Barclays due to continued PC market weakness. The firm’s target price for Seagate falls to $28 from $29 and Western Digital’s drops from $42 to $41. Seagate was downgraded by ThinkEquity after checks suggested a weak emerging market PC demand. The price target has fallen from $39 to $24.
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