Broadcom Poised To Take Advantage Of Growing Market, J.P. Morgan Reports

Broadcom Corporation's

recent acquisition of Innovision poises the company to take advantage of the burgeoning market for NFC technology in mobile phones and other consumer electronics devices, J.P. Morgan reports. “The current usage model for NFC technology is for enabling personal financial and banking transactions via mobile phones, which has already gained significant traction in Europe and Asia,” J.P. Morgan writes. “Although the NFC market is still relatively small, a Broadcom representative indicated that 1 out of 2 Android-based phones will utilize NFC technology by 2H12 as NFC-enabled transactions gain wider popularity in North America.” J.P. Morgan said that at this year's Consumer Electronics Show (CES) in Las Vegas, Broadcom showcased the plethora of solutions that they offer for broadband, wireless, and networking applications. “It was readily evident that Broadcom continues to lead the communications and consumer IC markets in innovation and breadth of product offerings, in our view,” J.P. Morgan adds. Broadcom closed Friday at $44.89.