New Chip Boosts Broadcom Stock
<i> Dow Jones</i>
Irvine-based Broadcom Corp.’s stock moved up 4.2%, or $3.13 a share, Monday to $78.13 after the software developer unveiled a single-chip communications device for cable modems.
The single chip contains cable-modem circuitry that used to be divided among three chips. The company said the single chip will reduce the cost of home equipment and next-generation cable modems.
The company said cable modems with Broadcom’s single chip also will allow cable operators to provide telephony services over the cable network and will allow existing networks to deliver data, digital video, telephony and Internet access at speeds up to 56 megabits a second.
