The stock of chipmaker Broadcom could increase by more than 20% thanks to what appears to be a growing relationship with Apple, according to Barron’s.
Broadcom’s (BRCM) chips take up more space in Apple’s (AAPL) new iPhone 7, which is likely to be a sales success, the report said. The same increased semiconductor use will likely be true for the next model of iPhone in 2017, it added, citing a stock analyst. Barron’s also noted that other trends will be positive for the company, including increased demand for proprietary signal filters used in cell phones.
Barron’s said Broadcom’s stock could hit $210 in a year, up from around $172 now.