JSM Financial: U.S. chip maker Broadcom rapidly becoming one of the tech sector’s best bets.

March 18, 2010 - PRLog -- California based supplier of integrated circuits (IC’s) for broadband communications and chip producer, Broadcom Inc. has recently posted a quarterly profit compared to a year-earlier loss and generated revenue, JSM Financial believes, which significantly bettered Wall Street expectations, which the firm puts down to a better-than-expected holiday season and a growing Asian demand.

The company has also announced that it expects to see revenue growth in the range of flat to five percent for the current quarter, which is historically worse than the fourth quarter.

"This year, most analysts forecast growth at anywhere between 15 and 25%, so most analysts are expecting this to be a recovery year for semiconductors,” JSM Financial understands the firm’s Chief Executive was recently quoted as having said, adding that, “we don't guide our revenue beyond the current quarter, but our management bonus plan pays out only if we significantly outgrow the industry. So Broadcom almost every single year significantly outgrows the semiconductor industry and our goal is continue to do that."

Since taking market share in the in the cell phone business, Broadcom looks set to become one of the best bets in the tech sector, prompting a Goldman Sachs analyst to upgrade the company’s stock from “Neutral” to “Buy” in a note to investors, JSM Financial has learned.

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