Is Broadcom Safe From Weak iPhone Sales?

On April 30, chip giant Broadcom (NASDAQ: AVGO)announced that it had tightened the range of its financial guidance for the second quarter of its fiscal year 2018 slightly as the strong demand that it saw from data center chip sales was offset by weak wireless chip sales. It also provided preliminary guidance for its third fiscal quarter of $5.

05 billion plus or minus $75 million, missing analysts' consensus estimate of about $5.24 billion. That miss, Broadcom explained, is due to "continued strength in demand from datacenters while wireless remains weak."