“Shares of Broadcom are up about 2% Thursday, after the company beat on fiscal fourth-quarter earnings per share and revenue expectations,” Bret Kenwell writes for TheStret. “While the stock is off its highs, it sends a good message to investors. Specifically, it says that the data center business and demand for Apple’s new iPhone remain strong, TheStreet‘s Jim Cramer said on CNBC’s “Mad Dash” segment.”

“If the technology sector rallies Thursday — which it is, with the PowerShares QQQ ETF up 0.55% — investors can likely thank Broadcom,” Kenwell writes. “Doubts were beginning to mount about the iPhone not having very robust demand and whether the data center business was topping out.”

Kenwell writes, “Given that Broadcom is one of the largest iPhone suppliers — behind Qualcomm, which Broadcom is trying to buy — a strong business suggests demand is more than OK, Cramer reasoned.”

Read more in the full article here.

MacDailyNews Take: If anyone tries to tell you that they’re doubting iPhone demand: Laugh in their face.

SEE ALSO:
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