TriQuint Semi Falls On Exclusion From Verizon iPhone; Avago Soars (TQNT, AVGO)

Shares of TriQuint Semiconductor TQNT gapped down on Tuesday after a teardown of the new Verizon VZ iPhone showed that the company's chips were not in the device. The TQNT chips were replaced with power amplifiers from Skyworks SWKS. Reports indicate, however, that TQNT chips will likely be inside the iPhone 5. TriQuint is getting ready to report earnings results tomorrow after the closing bell. The company is expected to report EPS of $0.28. One of the beneficiaries of the examination of the iPhone internals appears to be Avago Technologies AVGO, whose chip was on board the Verizon iPhone. That stock has jumped 3.57% to $31.89 on the news.