tech
Apple reported stellar results. That could boost the shares of these suppliers
Apple's strong fiscal second-quarter results are likely to boost names like chipmakers Cirrus Logic and Qorvo, among others, according to Stifel and KeyBanc.
TL;DR
- Apple reported strong fiscal second-quarter results, positively impacting tech stocks linked to its growth.
- Semiconductor companies Cirrus Logic, Qorvo, Ceva, and wireless provider Skyworks Solutions are expected to benefit from Apple's performance.
- Robust iPhone demand is a key driver, with Apple reporting $57 billion in iPhone sales for the quarter.
- Analysts from Stifel and KeyBanc highlight the potential upside for these suppliers despite some recent stock declines.
- Improved supply chain conditions are expected to boost smartphone sales in the upcoming June quarter.