Broadcom CEO: We found our sweet spot

Broadcom CEO Scott McGregor said Wednesday his company is focusing on Internet connectivity infrastructure as well as on smartphones.

"We decided to focus on stuff we are really good at," he told CNBC's "Squawk on the Street." Connectivity "is a sweet spot for us, and we're in a majority of the high end smartphones in the world today."

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The wireless chipmaker reported an earnings beat on Tuesday, with strong sales from Wi-Fi and broadband chips in smartphones from Apple to Samsung.

McGregor did not confirm whether Broadcom chips are being used in the new Apple Watch but said, "we are in a lot of the watches that are out there today and we've got great products in that space."

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