CLSA Ups to Outperform; Safe at Apple and Samsunghttp://blogs.barrons.com/techtraderdaily/2012/05/29/broadcom...Shares of communications chip maker Broadcom (BRCM) are up $1.02, or 3%, at $32.70 this morning after CLSA Asia-Pacific Markets’s Srini Pajjuri raised his rating on the shares to Outperform from Underperform, writing that a recent pullback in the stock “provides an attractive entry point.”Pajjuri thinks the company will see decent growth in wireless chips in the latter half of the year from its WiFi “combo chips” in Apple’s (AAPL) next iPhone, and from sales into “low-end 3G basebands.” He also thinks the company could get a lift from a “potential iPad mini.”Regarding investor concerns that the company’s combo chips may be pushed aside, Pajjuri thinks it’s a “manageable” risk:We continue to be mindful of the risk to Combo chips and expect BRCM to lose some share at smaller customers such as HTC. However, we have yet to see a roadmap from Qualcomm integrating WiFi in their thin modems, which gives us comfort that the risk to BRCM’s Apple business is modest even in 2013.
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