Apple suppliers cut revenue estimates amid iPhone shipment fears
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January 8, 2016 8:35 AM EST
Canaccord Genuity reiterated a Buy rating on Skyworks Solutions (NASDAQ: SWKS), and cut the price target to $110.00 (from $120.00), as Apple (NASDAQ: AAPL) anticipates softer 1H/C2016 iPhone and overall smartphone sales. Canaccord believes that the reduced orders from Apple near the end of the December quarter, combined with ongoing weak global smartphone sales trends, could create a greater... More
January 8, 2016 7:53 AM EST
RBC Capital analyst Amit Daryanani weighed in on Apple (NASDAQ: AAPL) two key AAPL suppliers - Cirrus Logic and Qorvo - warned after the close. This suggests weakness will be seen in the Mar-qtr for Apple units.
Cirrus Logic, who provided preliminary... More
January 8, 2016 7:41 AM EST
Needham & Company maintained a Buy rating on Qorvo Inc (NASDAQ: QRVO), and cut the price target to $55.00 (from $64.00), following the company's negatively pre-announced 3Q earnings report. QRVO meaningfully revised lower its revenue guidance for F3Q16 and guided F4Q16 revenue to be approximately flat sequentially.... More
January 8, 2016 7:13 AM EST
Mizuho Securities maintained a Buy rating on Qorvo Inc (NASDAQ: QRVO), and cut the price target to $50.00 (from $65.00), following the company's negative pre-announcement. Qorvo continues to struggle navigating the RF landscape, the second topline miss in the last six months, while peers... More
