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More on Avago: FQ3 guidance is for 6%-9% Q/Q revenue growth vs. a 6.7% consensus. FQ2 gross...

More on Avago: FQ3 guidance is for 6%-9% Q/Q revenue growth vs. a 6.7% consensus. FQ2 gross margin was 51.2% +50 bps Q/Q and +10% Y/Y; 50-52% GM expected in FQ3. Wireless sales (50% of total) -9% Q/Q and +9% Y/Y, likely hurt by declining Apple orders. Wired Infrastructure +7% Q/Q and -9% Y/Y, Industrial & Other +4% Q/Q and -16% Y/Y; Avago claims improved industrial distributor sales helped. "The initial ramp of a product transition at a large smartphone OEM" (likely one or more new iPhones) is expected to boost FQ3 sales, as will stronger enterprise networking and industrial demand. AVGO +4.1% AH, CC at 5PM ET (webcast). (PR)
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