Avago Jumps on iPhone 5 Release

Shares of chip maker Avago Technologies

are rising on Friday as traders buy the stock based on the release of the new Apple

iPhone 5. Heading into the last half hour of the trading week, the shares have risen better than 5 percent and were last trading at $35.55. Year-to-date, AVGO has added more than 23 percent. The company is supplying the AFEM-7813 dual band LTE duplexer module and the A5613 ACPM-5613 LTE power amplifier to Apple

for the iPhone 5. Avago Technologies Limited (Avago) is a designer, developer and global supplier of a range of analog semiconductor devices with a focus on III-V based products.