Wells Fargo's David Wong is upgrading Broadcom (BRCM -0.7%) to Outperform, a day after the...

|About: Broadcom Limited (AVGO)|By:, SA News Editor

Wells Fargo's David Wong is upgrading Broadcom (BRCM -0.7%) to Outperform, a day after the chipmaker raised its Q4 guidance and held an upbeat analyst day. Wong praises Broadcom's product line breadth, but also expresses concern about the company's weak position in the mobile application processor market, believing it could put Broadcom's dominant position in the Wi-Fi/Bluetooth "combo chip" market at risk.