Avago At High; Outlook Tempered By Smartphone Trends

By | February 26, 2014

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Avago Technologies (AVGO) stock hit a new high Wednesday after its fiscal Q1 earnings beat estimates, but the chipmaker lowered projections for the current quarter. Avago late Tuesday gave a Q1 report that showed strong sales in its wireless division offset weaker-than-expected industrial demand. Avago stock rose 4.9% in the stock market today, closing at 61.90. Earlier Wednesday, Avago stock touched a record high of 63.49. The company makes chips Scalper1 News

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