Portfolio Manager Christopher Floyd of QS Investors says NXP Semiconductors NV (NXPI) has done very well for his portfolio due to its connection with Apple (AAPL) and the success of the iPhone 6.
“One of their key products is the near-field communication chips that go into iPhones that enable Apple Pay, for example. Those chips provide the communication between the iPhone and the point of sale technology. Needless to say, going into the iPhone 6 was the huge win for the company, and that really has driven its growth over the last couple of years,” Floyd says.
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Additionally, NXP Semiconductors has recently undertaken the acquisition of Freescale Semiconductor (FSL), which Floyd says is a well-timed acquisition.
“It broadens their product portfolio and should lead to healthy growth going forward. The stock still looks attractive on our metrics and remains one of the bigger holdings in the portfolio,” Floyd says.
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