SOURCE: Paragon Financial Limited
NEW YORK, NY--(Marketwire - Aug 3, 2012) - Shares of Apple's chip suppliers received a boost Tuesday after Cirrus Logic, who obtains a majority of their revenues from selling audio chips to Apple, projected revenues to rise 70% - 90% in the second quarter. "While we understand there is intense market interest related to our largest customer, in accordance with our policy, we do not discuss specifics about our business relationship," said Chief Executive Jason Rhode. The Paragon Report examines investing opportunities in the Semiconductor Industry and provides equity research on Broadcom Corporation (NASDAQ: BRCM) and OmniVision Technologies, Inc. (NASDAQ: OVTI).
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According to recent data from IHS iSuppli, a market research firm, Apple is projected to increase its chip purchases by 15.1 percent to $28 billion this year, compared to the $24 billion it spent in 2011. IHS forecasts Apple will expand on its lead in global chip purchasing with a growth rate of 12.3 percent in 2013.
"Apple will continue to outgrow the other major OEMs in chip purchasing because of its clear vision of the future, which extends a few years out. This vision includes a strategy to not only update currently popular products but also achieve success in other areas of interest like the television segment," said Myson Robles-Bruce, senior analyst for semiconductor spending and design activity at IHS.
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Broadcom recently introduced the BCM4335, the industry's first complete 5G WiFi combo chip for smartphones, tablets, ultrabooks and other mobile devices. The company recently reported total revenues for the second quarter of 2012 were $1.971 billion. This represents an increase of 7.9% compared with the $1.827 billion reported for the first quarter of 2012.
OmniVision Technologies is a leading developer of advanced digital imaging solutions. Its award-winning CMOS imaging technology enables superior image quality in many of today's consumer and commercial applications, including mobile phones, notebooks, tablets and webcams. Shares of the company are up 14.5 percent for the year.
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