Tue, Sep 2, 2014 7:06 AM EDT 0:55
Shares of Avago Technologies surged on Friday making it TheStreet's Move of the Day. The semiconductor company reported a better-than-expected third quarter and gave a strong outlook for its wireless unit. Analysts are optimistic the new Apple iPhone will have a big impact on the company’s growth. Investment bank Pacific Crest argues Avago’s wireless components will be double what they were in the iPhone 5s. Avago posted quarterly profits of $1.26 a share in the first full three-month period in which its acquisition of data storage company LSI Corporation acted as a completely integrated division.