Texas Instruments (TXN) and Avago Technologies (AVGO) became Apple ‘s (AAPL) latest victims Tuesday, as Wall Street slashed the chip suppliers’ earnings estimates on presumed iPhone shipment weakness. Canaccord Genuity analyst T. Michael Walkley and RBC Capital analyst Amit Daryanani also lowered their views on iPhone shipments for 2016 and the March quarter, respectively. Walkley sees 219 million units in 2016, vs. his earlier call for 231
Cirrus Logic (CRUS) led a partial Apple (AAPL) chips recovery midday Friday after the chipmaker and rival Qorvo (QRVO) late Thursday lowered their Q3 views on slackening iPhone 6S demand, forcing the sector to plunge on Wall Street. Late Thursday, shares of Apple chip suppliers plummeted with Skyworks Solutions (SWKS) and Avago Technologies (AVGO) stocks leading the way. That trend reversed Friday. In early trading in the stock market today ,
Apple (AAPL) and its chip suppliers were walloped after the close Thursday, as Qorvo (QRVO) and Cirrus Logic (CRUS) updated their Q3 sales views, guiding far below Wall Street forecasts due to holiday season mobile weakness. In after-hours trading, Qorvo and Cirrus Logic stocks were down 10% and 5%, respectively. Shares of Skyworks Solutions (SWKS) and Avago Technologies (AVGO) were down about 4%, with NXP Semiconductors (NXPI) stock down 2.5%.