HTC Reduces Q3 Smartphone Parts Orders; Stocks in Supplier Sector Fall (CRUS) (SWKS) (BRCM)

The stocks of companies which supply parts for smartphone makers are lower Monday afternoon following a research note from UBS which suggests Taiwan's HTC Corp. reduced component parts orders for the third quarter across all of its supply chain.

The firm said following the disasters in Japan, HTC initially over-ordered parts as a better-safe-than-sorry play.

UBS still believes HTC is in a better position than most peers given the company's recent speed in unveiling new products. The firm maintains a Buy rating.

Elsewhere on the Street Monday, Citi's Kevin Chang warned demand in the smartphone and tech sectors is waning amid inflation concerns in emerging markets and weakening economies in developed markets.

Around the sector:

• RF Micro (Nasdaq: RFMD) - down 4 percent
  
• Cirrus Logic (Nasdaq: CRUS) - down 3.3 percent
  
• Skyworks (Nasdaq: SWKS) - down 2.7 percent
  
• Triquint (Nasdaq: TQNT) - down 2.6 percent
  
• Cypress Semi (NYSE: CY) - down 2.5 percent
  
• Broadcom (Nasdaq: BRCM) - down 2.3 percent
  
• Marvell (Nasdaq: MRVL) - down 1.9 percent

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Citigroup set to join top banks in Anthropic IPO - Bloomberg
• Invesco cuts fees 20% amid redemption backlog in real estate fund - Bloomberg
• Bessent: nothing magic about $40 trillion debt number