Broadcom Jumps After Apple Earnings

Shares of semiconductor company Broadcom BRCM are surging on Wednesday after Apple's AAPL blowout earnings yesterday afternoon. At last check, BRCM was up 4.79% to $36.05. Volume has been heavy with more than 8.9 million BRCM shares already trading hands on the session. The strength in the stock is due to AAPL's tremendous Q2 earnings as Broadcom is a large supplier to the company. BRCM is set to report its quarterly earnings results on May 1. Wall Street analysts currently have consensus EPS estimates of $0.55 which compares to the $0.68 that the company reported in the year ago quarter. Revenues are expected to be $1.80 billion, versus $1.82 billion last year. Broadcom Corporation (Broadcom) is a global semiconductor solution for wired and wireless communications. Broadcom products deliver voice, video, data and multimedia connectivity in the home, the office and the mobile environment.