Broadcom Corporation (NASDAQ:BRCM) is a wireless semiconductor giant that focuses on gear to deliver voice, video and data connectivity. Broadcom has stood out for a while as one of the biggest beneficiaries from Apple orders to supply parts that go into iPhones and iPads.
Overall weakness in the chip market certainly is a problem for Broadcom. Shares are significantly in the red during the past 12 months because of this trend. But if you’re looking to buy into Apple, BRCM might provide an opportunity to seek out value instead of red-hot growth. The company has a forward P/E of about 11 right now vs. 16 for Altera and other competitors.
If you believe the forecasts, Broadcom is set to see significant earnings growth in 2012 over last year — about 18%, followed by an additional 18% from 2012 to 2013.
A 10-cent quarterly dividend sweetens the pot, too.