QUALCOMM Completes Half of Sharp Deal and 3 Chip and Big Data Stocks on the Move
Broadcom Corp. (NASDAQ:BRCM): Terri Timberman is the executive vice president for global human resources at communication technology giant Broadcom and notes that the company has predicted that 99.98 percent of Internet traffic includes a Broadcom chip. This is not a bad market presence in a trade where smartphones predict a 33 percent growth in sales during 2013. By 2020 there will likely be 50 billion connected gadgets globally, or six for every person on the planet.
QUALCOMM Incorporated (NASDAQ:QCOM): Earlier in the month, chip-maker Qualcomm became Sharp’s savior after it agreed to invest $120 million in the struggling Japanese electronics firm. Today, Sharp decided to confirm that it finished its first half of the deal, likely seening the two companies jointly work on MEMS display technologies, as the company continues to bank its initial $60 million.
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Rackspace Hosting, Inc. (NYSE:RAX): Piper Jaffray has decided to keep its overweight (or buy) rating Rackspace Hosting Inc. shares. The overweight rating has indicated that Rackspace’s stock could likely prove to be a better value than the comparable stocks in the tech sector.
VMware, Inc. (NYSE:VMW): In insider purchases, EMC purchased $6,398,252 worth of the company’s stock. This has been EMC’s fifth purchase in two weeks.
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