The Traderszone Network

Published in TZ Latest News 29 August, 2014 by The TZ Newswire Staff

IPhone-Related News Propels Avago, NXP To New Highs

A couple of foreign fabless chipmakers rallied to record highs Friday on Apple (AAPL) iPhone-related news. Avago Technologies (AVGO) gapped up and soared 8% in massive turnover, extending its gain to 26% from a 65.93 flat-base buy point it cleared on May 6. Late Thursday, the Singapore-based chip designer reported fiscal third-quarter earnings of $1.26 a share ex items, up 70% from the prior year and well over views for $1.05.

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