Will Broadcom (BRCM) shares recover after an early-morning dip? FBR analyst Craig Berger just corrected a note he sent earlier this morning saying that Apple (AAPL) had unexpectedly snubbed Broadcom (BRCM) in favour of Infineon (IFX) for the GPS chip on the new iPhone 3G. (Which just sold 1 million units in the last three days.) Now Berger says Broadcom will likely get some money out of the iPhone’s GPS chip via a revenue sharing agreement with Infineon.
The difference: He now thinks Broadcom will see 3-4% revenue growth in Q3 vs. Q2 from the iPhone and iPod touch, up from 1-2% growth he warned about this morning, but still down a hair from the 4% growth he previously projected when he thought Broadcom was the lone GPS chip provider.
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