Qualcomm on the rise
Last Friday, Qualcomm(NASDAQ:QCOM) closed at $61.81 with a spike of 12.7%. This has been largely news driven. Communications chipmaker Broadcom Ltd had planned announce its bid for Qualcomm Inc. Wall Street Journal and Bloomberg had reported that the bid for QCOM could be more than $100 Million. Broadcom has apparently prepared a $70 per share bid, which QCOM is preparing to fend off, on the note that it’s undervalued.