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Broadcom Is Breaking Out

Broadcom (NASDAQ:BRCM) is a global semiconductor maker for wired and wireless communications. It provides “systems-on-a-chip,” including those for Apple‘s (NASDAQ:AAPL) new iPhone. Earnings are expected to improve to $3.25 per share in 2013, up from $2.80 in ’12.

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Fourth-quarter 2012 earnings beat estimates, and Broadcom raised guidance for 2013 by 5 cents. Credit Suisse has a 12-month target of $45. But technically note the Golden Cross, the MACD buy signal and heavy accumulation. Once BRCM breaks $38, it will most likely make a quick run to $45.

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