Shares of Irvine-based Broadcom Corp. closed up 4% Tuesday on hopes for its chips in Apple Inc.’s newly unveiled iPhone device.
Broadcom is expected to provide the controller chip for iPhone, which is operated by touch.
“We view the new iPhone as a positive for Broadcom,” UBS analyst Alex Gauna said.
The phone, set to be offered by Cingular Wireless LLC, could sell 12 million units in its first year, Gauna said. And it shouldn’t cut into sales of Apple’s Video IPod, which Broadcom also supplies chips for, the analyst said.
Massachusetts’ Skyworks Solutions Inc., which has operations in Irvine, was up nearly 3% Tuesday on the iPhone news. The chipmaker could provide a front-end module and switch for iPhone.
