Power Behind The iPad: Broadcom

At least ten brokerages raised their price targets on Broadcom after their results and outlook beat Street expectations.

"We see no warning signals regarding channel inventory builds so far, and expect a continued strong outlook for Broadcom at least through the third quarter," Robert W Baird analyst Tristan Gerra said.

On Tuesday, Broadcom, which makes chips for an array of products posted strong results and forecast second-quarter revenue above estimates.

Part of the strength stemmed from improving demand for its chips used in smartphones such as the Apple iPhone.

What else must you know about this company before you place your bets. Check out our interview with CEO Scott McGregor. Watch the video now.

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