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$AVGO made its final offer to acquire $QCOM and under the terms of the proposed agreement Qualcomm stockholders would receive an aggregate of $82 per each Qualcomm share, consisting of $60 in cash and the remainder in Broadcom shares. The new offer represents a 50% premium over the closing price of $QCOM stock on Nov. 2, 2017.
The iPhone maker $AAPL's revenue jumped 12.6% to $88.29Bil in 1Q18, though the number of iPhone units sold fell 1% YoY, thanks to the pricier iPhones that increased the company's margins. Japan had the highest growth in revenue of 26% followed by Rest of Asia Pacific, Europe & Greater China. $AAPL guided for 2Q18 revenue of between $60-62Bil.
Geographically for 1Q18, $AAPL showed good growth across all regions. Japan showed the highest momentum with revenue surging 26% YoY, while China revenue grew 11%, driven by higher sales of the company's premium smartphone iPhoneX. The company also reported that its active installed base of devices reaches 1.3Bil in January.
RF solutions provider $QRVO narrowed its loss for 3Q18, driven by robust growth in defense and IoT, and improved operating performance. Loss narrowed to $33.1MM or $0.26 per share from $78.6MM or $0.62 per share a year ago. Revenue rose 2.34% to $845.7MM. On an adjusted basis, $QRVO earned $1.69 per share.
$CSCO announced the Cisco Container Platform, a production-grade software container platform. The Cisco Container Platform enables an open, multicloud environment with consistent application deployment and management on multiple deployment platforms, including Cisco HyperFlex and virtual machines, both on premises and in the cloud.
$CSCO unveiled the Cisco Network Assurance Engine, which uses continuous verification of the entire network to enable smooth running of the business. The Cisco DNA Center Assurance helps reduce the time and money spent on troubleshooting. The Cisco Meraki Wireless Health reduces mean time to remediate wireless issues.
Intel's revenue rose 4% in 4Q to $17.1Bil vs. last year. $INTC recorded an one-time tax charge of $5.4Bil due to tax reforms, which resulted in net loss of $0.7MM and loss per share of $0.15 for 4Q. Data Center Group continues to perform well for the chip maker growing 20% whereas its biggest segment Client Computing Group slipped 2% to $8.9Bil.
$CSCO said Ameritas has selected Cisco computing, networking and security technology as the foundation for upgrading its data centers. The goal of the infrastructure upgrade was to improve operational efficiency and increase IT security. The new technology infrastructure has reduced Capex by 30-40% in switching devices alone.