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Piper launches coverage of Broadcom (BRCM +1.6%) with an Overweight and $50 PT, leading shares...

Piper launches coverage of Broadcom (BRCM +1.6%) with an Overweight and $50 PT, leading shares to outperform a bit. The chipmaker, which has more or less been range-bound since last spring, sold off on Wednesday on concerns about iPhone demand. Samsung's Galaxy S IV, which will reportedly sport a Broadcom combo chip (like the S III), is expected to be announced next month.
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