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Sector Snap: Chip stocks up on strong quarterly reports



By AP
23 April 2008 @ 12:27 pm EST

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Quotes
BRCM 14.09 0.45
ANAD 1.35 0.15
TER 3.14 0.17

SYMBOL LOOKUP

Broadcom shares jumped $3.54, or 15 percent, to $27.09. They have traded in the last 12 months between $16.38 and $43.07.

North Reading, Mass.-based chip testing company Teradyne also saw its shares jump on its results.

Citigroup analyst Timothy M. Arcuri said that company's second-quarter forecast "suggests Teradyne is regaining some product mojo."

The chip testing sector could be one of the fastest technology sectors to recover from the economic decline, Arcuri said in an investor note.

In midday trading, the stock added 66 cents, or 5.4 percent, to $12.94.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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