Goldman Sach’s expects Broadcom’s mobile and wireless segment to remain the company’s most critical growth driver through 2011, and the most critical swing factor for the stock as well. Following a series of recent checks, we believe we now have better visibility on the ramp of Broadcom’s cellular business, and we forecast Broadcom’s baseband revenue at about $600 mn in 2010 and $900 mn in 2011 (from $450 mn in 2010 and $675 mn in 2011 previously; see Exhibit 2).
