Scalper1 News
Three top chipmakers, which are suppliers to Apple ( AAPL ) and Tesla Motors ( TSLA ), have broken out of bases, and they’re trading in buy range: Microsemi ( MSCC ), Broadcom ( AVGO ) and Nvidia ( NVDA ). Apple chip supplier Microsemi announced Thursday that one of its customers has successfully implemented its SmartFusion2 system-on-chip to provide advanced security features. Smartphone security was recently brought to the forefront with a clash between Apple and the FBI over unlocking a terrorist’s phone. Microsemi is rising 1.5% to 37.06 in heavy volume on the stock market today in early afternoon action, breaking out of a cup-with-handle base with a 36.64 buy point. Shares are still well within the 5% buying range. Fellow Apple supplier Broadcom broke out of a more than nine-month-long consolidation base in Thursday’s session and was continuing to another new high Friday, gaining 0.7% to 152.61 in above-average volume. Shares are in buy range to 158.13, which is 5% past the 150.60 buy point. Broadcom said Wednesday it will demonstrate some of its industry-leading chips at next week’s Optical Fiber Communication conference. And Tesla supplier Nvidia tried to break out of a cup-with-handle base with a 33.16 buy point in Wednesday’s session. It is now firmly in buying range and hitting a new 52-week high in heavy turnover, climbing 3.9% to 34.09. Argus initiated coverage on Nvidia with a buy rating and is bullish on Nvidia’s leadership in visual computing. Not only is Nvidia a Tesla supplier, but it’s also heavily involved in the emerging virtual reality market. Apple shares were unchanged in early afternoon trading, while Tesla climbed 2.5%. Scalper1 News
Scalper1 News