Nomura Chimes in on These Chip Bellwethers

Intel Corporation (NASDAQ:INTC): According to Nomura, a merger of Intel and NVIDIA (NASDAQ:NVDA) is a good strategic move, as the latter’s superior graphics IP would enhance Intel’s CPU offerings and speed up Intel’s mobile offering. Nomura does add that regulatory barriers may be significant, and NVIDIA could be worth more than Intel wants to pay.

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Broadcom Corp. (NASDAQ:BRCM): Michael Lean has put Broadcom on Nomura’s Conviction Buy list, saying that the company’s core business keeps performing impressively, and that Broadcom’s valuation (13-times estimated 2013 EPS) is compelling. To fit the move, Maxim Integrated (NASDAQ:MXIM) is being dropped from the list. CLSA upgraded Broadcom due to valuation and thinks that it can keep Apple (NASDAQ:AAPL) and Samsung business for the next year, at least. Price target is $38.

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