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Brean cuts Avago to Hold on Cisco fears

  • Already worried about the impact Samsung's high-end smartphone weakness could have on Avago (AVGO -2.8%) Brean's Mike Burton is now also concerned about Cisco's "flattish" Oct. quarter guidance.
  • Burton also points out Cisco's "most bullish" CC remarks about service provider sales were related to switch and edge router products, rather than core routers (where Avago is more strongly exposed).
  • On a more encouraging note, Burton states Avago's "position at Apple an and the leading smartphones remains solid" thanks to its FBAR filter tech. Avago stated in May the technical demands of 4G phones are boosting sales of chips sporting its FBAR filters.
  • FQ3 results arrive on Aug. 27.
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