3 Chip Stocks to Note Now: Qualcomm’s Cash Hoard, Broadcom Overcomes a Goldman Downgrade, and Nvidia’s Rumored Tab 7 Gets Benched
Qualcomm Inc. (NASDAQ:QCOM): CEO Paul Jacobs says that Qualcomm is going to put some of its $30.4 billion cash hoard to use to help the company stay dominant in the mobile chips space. ”We want to drive the new technology into the market as quickly as possible,” Jacobs said to Bloomberg. Having a “good war chest” will allow the company to keep investing even when the economy worsens. However, the executive sees little possibility of using the cash for payouts and dividends.
Broadcom (NASDAQ:BRCM): Shares of Broadcom have overcome an early trading deficit and are now trading higher despite a Goldman Sachs downgrade to Neutral from Buy due to setbacks in the Samsung business and a lack of visibility into customer diversification. The firm also lowered its price target, to $30 from $36.
Nvidia (NASDAQ:NVDA): The alleged Tegra Tab 7 benchmark has been spotted, racking up an alleged 27,643 points in its AnTuTu test though the product has yet to become official. It’s rumored that Nvidia has been working on a 7-inch tablet, and the latest report of the benchmarking seems to substantiate those speculations. The test supposedly ran Android 4.2.2 Jelly Bean and a 1810MHz chip, presumably the NVIDIA Tegra 4 CPU.
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