Cirrus Logic and Avago Technologies Look to Benefit From Strong iPhone 5 Demand
October 08 2012 - 8:20AM
Marketwired
Apple's chip suppliers have benefited from the immense popularity
of the company and their products in 2012. In August, Apple's
valuation of $623.52 billion made it the largest U.S. Company ever
surpassing Microsoft. The recently released iPhone 5 set a new
record for opening weekend sales, with sales topping 5 million
units. Five Star Equities examines the outlook for companies in the
Semiconductor Industry and provides equity research on Cirrus
Logic, Inc. (NASDAQ: CRUS) and Avago Technologies Ltd. (NASDAQ:
AVGO).
Access to the full company reports can be found at:
www.FiveStarEquities.com/CRUS
www.FiveStarEquities.com/AVGO
While sales of 5 million iPhones during its debut weekend fell
short of analysts' estimates, it was largely in part to supply
issues. "While the supply issues for the iPhone 5 since launch are
concerning in terms of the company's ability to fully meet demand
in December, we are staying with our 49 million unit estimate for
the holiday quarter," said Piper Jaffray analyst Gene Munster.
Canaccord Genuity analyst T. Michael Walkley also expects China
Mobile, the world's largest carrier, to launch its first iPhone on
its network in early January, just in time for the Chinese New Year
in February.
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Cirrus Logic delivers highly optimized products for a variety of
audio and energy-related applications. The company recently
projected revenue in the fiscal second quarter to be between $170
million to $190 million, well above the $130 million projected by
analysts according to Reuters. Shares of the company have gained
over 30 percent in the last 3 months.
Avago Technologies is a leading supplier of analog interface
components for wireless, wireline, and industrial applications.
Apple currently uses one of Avago's communications chips inside
their iPhone 5. The company reported that third quarter fiscal 2012
net revenues of $606 million, an increase of 5.0 percent compared
with the previous quarter and 0.5 percent from the same quarter
last year.
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