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What: Shares of communications chipmaker Broadcom (Nasdaq: BRCM ) soared more than 11% in intraday trading on strong third-quarter financial results.
So What: Excluding certain items, Broadcom earned $0.74 a share on $1.81 billion in revenue. Analysts were expecting $0.71 and $750 million, respectively. In a call with analysts, CEO Scott McGregor attributed his company's outperformance to consumers' "increasing demand for data."
Now What: Being part of Apple's (Nasdaq: AAPL ) list of iPhone suppliers surely also helps. The Mac maker sold 14 million handsets in its latest quarter. As long as Apple's iPhone growth story remains intact, so will Broadcom's.
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