Broadcom (BRCM +2%) outperforms following an upgrade to Buy from Auriga. The firm sees the...

Broadcom (BRCM +2%) outperforms following an upgrade to Buy from Auriga. The firm sees the arrival of the high-speed 802.11ac Wi-Fi standard boosting Broadcom's lead in the smartphone/tablet Wi-Fi chip market, and diminishing the competitive threat posed by Qualcomm (NASDAQ:QCOM), which last year bought Wi-Fi chipmaker Atheros. Broadcom's relationships with China's Huawei and ZTE are also viewed as a positive.