Market Overview

Avago-Broadcom, Google Barrage And Thursday's Biggest Tech Stories...In JP Morgan's Eyes

Share:

In a report published Friday, JP Morgan analyst Rod Hall summarized Thursday's top Wall Street stories.

Avago Acquires Broadcom, Says HDD Demand Stabilizing

Avago Technologies Ltd (NASDAQ: AVGO) announced its intentions to acquire Broadcom Corporation (NASDAQ: BRCM) for $37 billion.

Avago also noted during its earnings call that HDDs were weaker than expected in the second quarter. The company added that it expects a seasonal uptick in the bottom half of 2015 due to Windows 10 upcoming release.

Google Discusses Business At I/O Conference

Google Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) announced a new OS (code-named Android M) at its I/O conference. The company also launched Google Pay which is a "big improvement" over Google Wallet.

Google also announced it will offer HBO Now on Google Play for Android and Chromecast users. Also, Google Photos will let users store unlimited amounts of photos and videos for free.

Finally, Google introduced an Brillo, an Android based operating system for the "Internet of Things" (IoT) while Weave is a communications protocol also aimed at IoT.

IDC Survey: PC Shipments Will Fall In 2015

Hall cited an IDC survey that suggested worldwide PC shipments are expected to fall by 6.2 percent in 2015 after seeing nearly stable shipments in mid-2014. The market may be awaiting the arrival of Windows 10 this summer.

The analyst noted that IDC's findings are consistent with his prior forecast of a 6.1 percent decline for 2015.

CBS Joining Apple TV?

CBS Corporation (NYSE: CBS)'s CEO Les Moonves hinted that his network will "probably" join forces and sign a deal with Apple Inc. (NASDAQ: AAPL)'s new TV service.

Moonves met with Apple's media chief Eddy Cue as part of an "ongoing conversation." The CBS exec said that it is uncertain how long it would take to finalize any agreement or when Apple would launch its service and the discussions mostly focused on the financial aspect of a potential deal.

Latest Ratings for AVGO

DateFirmActionFromTo
Dec 2019MaintainsMarket Perform
Dec 2019ReiteratesBuy
Dec 2019MaintainsEqual-Weight

View More Analyst Ratings for AVGO
View the Latest Analyst Ratings

Posted-In: Android M Apple TV avago Brillo broadcomAnalyst Color Analyst Ratings Tech

 

Related Articles (AAPL + AVGO)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
VIACJP MorganReinstates50.0
NUVASVB LeerinkMaintains92.0
SRPTCantor FitzgeraldMaintains211.0
SRPTPiperJaffrayMaintains210.0
LULUGoldman SachsMaintains219.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Do You Need Hands To Buy A Big Mac?

Cryptocurrencies In Focus At Cybercrime Event