Tech Cos Up After Broadcom Makes Offer For Qualcomm -- Tech Roundup

Features Dow Jones Newswires

Shares of tech companies rose after reports of a massive deal brewing in the semiconductor sub sector. Broadcom made an unsolicited $105 billion takeover bid for Qualcomm, seeking to capitalize on Qualcomm's recent troubles, which have included a licensing dispute with Apple. Should the deal close, it would be the biggest technology takeover ever. In another shift in the semiconductor business, The Wall Street Journal reported that Intel planned to launch a laptop-computer chip that combines an Intel processor and an AMD graphics unit, according to a person familiar with the matter. It would be the competitors' first collaboration since the 1980s, said analyst Patrick Moorhead of Moor Insights & Strategy. Technology companies were also lifted by the solid round of earnings. "We are wrapping up another impressive earnings season and what can you say, technology continues to defy all odds. In fact, at the start of earnings season, tech earnings were expected to be up just over double digits, but we are now looking at earnings up more than 20%."

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-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

November 06, 2017 16:28 ET (21:28 GMT)