The Philadelphia Semiconductor Index has understated the chip industry’s gains this year because of a record number of changes in the benchmark and the inclusion of LED and solar stocks, Gleacher & Co.’s Doug Freedman said.
Intel Corp., seeking a replacement for departing Chief Executive Officer Paul Otellini, needs a candidate with credentials internal contenders lack: a record of success in the market for mobile-device semiconductors.
Broadcom Corp., a maker of communications chips, reported sales that topped analysts’ estimates as demand for computer-networking gear boosted orders and helped it overcome struggles in the mobile phone market.
Intel Corp. Chief Executive Officer Paul Otellini will retire in May, in a surprise move three years before mandatory retirement, after failing to equip the world’s largest semiconductor maker for a shift toward mobile devices and away from the personal computers it long dominated.
Broadcom Corp., a maker of communications chips used by Apple Inc. and Samsung Electronics Co., reported fourth-quarter revenue and profit that topped estimates, buoyed by sales of chips for phone networks.