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Shares of chip giant Broadcom (AVGO) are up 63 cents at $250, after KeyBanc’s John Vinh this morning reiterated an Overweight rating on the stock, and a $280 price target, writing that it is "one of the best-positioned suppliers to benefit” from the presumed forthcoming “iPhone 8” from Apple (AAPL), expected to debut next month. Vinh’s note comes in advance of Broadcom’s fiscal Q3 earnings report this Thursday, after market close. Vinh expects Broadcom will gain 40% more worth of chips in the new iPhone relative to its place in past models — 8 chips up from 5, he projects.
Analysts are most critical about Teva's plan to cut $5 billion in debt by the end of the year.
Apple Inc.'s $1 billion investment to buy and produce original TV programming pits the technology giant against Spotify, not Netflix Inc. or Amazon.com Inc. -- at least for the time being, according to ...