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5 Chip Stocks To Watch Are Moving Up, With Apple’s Big Event March 21

A basket of top-rated chip stocks are making moves around buy points now, with several moving up in Friday trading. And Apple ( AAPL ), a big user of semiconductors, just sent out press invitations for a March 21 event where it’s expected to introduce a small iPhone and another iPad. So which chip stocks are highly rated by IBD and get at least some of their business from Apple?  Broadcom ( AVGO ), IBD Leaderboard stock  Macom Technology Solutions ( MTSI ), Cirrus Logic ( CRUS ), Mellanox ( MLNX ) and Nvidia ( NVDA ) make the list. All are at least somewhat diversified, with revenue streams in everything from data center and mobile networking systems to powerful graphics chips for virtual reality and gaming, to connected car technology and now even artificial intelligence. Chips And Profit IBD 50 stock Broadcom was up more than 3% in midday trading in the stock market today , putting it just above and out of buy range from a double-bottom base. Macom was up nearly 6%, similarly above its ideal buy range. Broadcom and Macom Technology Solutions made IBD’s Stocks on The Move screen Friday, heading up in high volume. Broadcom made Thursday morning’s screen too. Early Thursday, Broadcom’s management team had presented at a Susquehanna Financial analysts’ conference. “It’s a great time to operate in the semiconductor industry,” CEO Hock Tan said there. “You have a substantial profit pool … compared to similar industries of the same size.” Loading the player…   Broadcom had started giving up some of its gains as stock indexes dipped into the red with falling oil prices, but it ended up with a 1.7% rise Thursday. Several other top-rated chip stocks moved up early Friday after declining Thursday. Cirrus Logic was up about 3% at midday. Mellanox was up 2% and Nvidia was up fractionally. On Thursday, Mellanox had slipped to the bottom of buy range, as had Macom Technology Solutions, while Nvidia had edged down to about 4% under a buy point from a cup base. While the stock market’s in a confirmed uptrend, much of the action is choppy with ups and downs in oil prices and economic concerns around the globe. Going into Friday trading, all five of these top-ranked chipmakers had fallen from a week ago, between 1% and 7%, with the S&P 500 index down 1%. Cirrus Logic and Mellanox were up 14% and 15% this year, respectively — the only ones of the five with notable gains. Nvidia, an IBD 50 stock, has the strongest IBD Composite Rating of the bunch, a best-possible 99, taking into account earnings growth, stock price gains and several other metrics. The others range between 90 and 98 in Composite Rating. Apple Chips It will take awhile for teardowns to show whose chips go into whatever new products Apple introduces, and longer for those chips to translate into reported sales, and lagging iPhone sales growth lately hasn’t helped the chips. Apple Sets March 21 To Launch Small iPhone, New iPad, Watch Bands https://t.co/MxIpxMFKvc pic.twitter.com/iPxQ1lTAFF — Investors.com (@IBDinvestors) March 10, 2016 Other markets are driving growth, however. Nvidia, for instance, said in its fourth quarter report, in February, that it’s at the “center of four exciting growth opportunities — PC gaming, VR (virtual reality), deep learning and self-driving cars.” Nvidia is a partner to electric car maker  Tesla Motors ( TSLA ) and other auto manufacturers, and said last month that it’s in an alliance with Facebook ( FB ) and Chinese Internet company Alibaba Group ( BABA ) for speedy artificial intelligence chips.

5 Top-Rated Chip Stocks: Are They Buys After Rough Market Day?

Semiconductor stocks are broadly down as major stock market indexes slip. Even top-rated chipmakers gave back gains in Tuesday afternoon trading. Some are near buy points, with the overall market still in a confirmed uptrend — but touchy amid weak China trade news and other economic concerns. In context, the profit-taking in chip stocks follows their 20% rally off February lows. Macom Technology ( MTSI ), an IBD Leaderboard stock and one of many Apple ( AAPL ) suppliers, was down 4% in afternoon trading in the stock market today , putting it just below buy range from a double-bottom base with a buy point of 41.42. Macom makes radio frequency chips for networks and cellular systems, among other things. It’s still up 8% this month. Broadcom ( AVGO ) gapped up Friday after its strong earnings report , and the IBD 50 stock is now logging a second day easing from that jump. It’s in buy range above a 138.79 buy point from a double-bottom base. Broadcom, recently merged with Avago Technologies, sells a broad range of analog and digital chip solutions. And it’s another supplier to Apple, which has an expected iPhone SE reveal event March 21 . Cirrus Logic ( CRUS ), a fabless chip supplier and yet another vendor to Apple, is trading about 9% under a potential buy point from a nine-month consolidation pattern, after its 4.5% drop intraday Tuesday. Mellanox Technologies ( MLNX ) was down almost 1% in afternoon trading, in buy range from a cup-with-handle base. The Apple supplier has given back early-March gains the last four days, after gapping up sharply in late February. Mellanox sells high-performance, end-to-end interconnect solutions for data center servers and storage systems. Nvidia ( NVDA ), down a little over 1% Tuesday and now about 6% under a buy point, is a maker of graphics chips used in gaming and with a growing specialty helping to power self-driving cars and advanced car safety systems. The IBD 50 company is a partner to electric car maker  Tesla Motors ( TSLA ), among many other auto manufacturers, with its technology going into Tesla’s big-screen infotainment consoles. Chip Stock Charts As the market has recovered, many chipmakers have moved above their key 50-day moving averages. In this video, we cover how some top-ranked semiconductor stocks opened the week, through Monday’s closing bell: Loading the player…   IBD’s Electronics-Semiconductor Manufacturing industry group was down 2% intraday Tuesday, while the S&P 500 index was off nearly 1%. RELATED: Samsung Galaxy S7: Qualcomm, Qorvo Displace Cirrus Logic, Broadcom

Samsung Galaxy S7: Qualcomm, Qorvo Displace Cirrus Logic, Broadcom

Apple ( AAPL ) supplier Qualcomm ( QCOM ) quintupled its content in the Samsung Galaxy S7 smartphone as radio frequency-chipmaker  Broadcom ( AVGO ) repeatedly lost share to rival Qorvo ( QRVO ), a ChipWorks teardown  shows. The ChipWorks teardown was last week, but it was highlighted in a research report Monday by Needham analyst Rajvindra Gill. InvenSense ( INVN ), another Apple supplier, apparently lost the GS7 gyroscope to STMicroelectronics ( STM ). InvenSense stock was down 1.5% in midday trading on the stock market today . STMicro stock was up a fraction. Three  Skyworks Solutions ( SWKS ) chips were completely replaced in the GS7. Key winners in getting their chips inside the new phone, besides Qualcomm and Qorvo, included  NXP Semiconductors ( NXPI ) and Maxim Integrated Products ( MXIM ). Although Broadcom retained a power amplifier, rival Qorvo swiped two Broadcom components from the GS7. But Broadcom replaced a Skyworks multiband module (a power amplifier). Last week, Broadcom CEO Hock Tan bragged that the chipmaker has increased its content by 20% every year for its “North American customer,” which analysts said is the Apple iPhone, and that another bump is expected with the release of the next iPhone, the iPhone 7, due out in September. Meanwhile, though, Broadcom is de-emphasizing its mobile unit, which will comprise 23% of Q2 sales, down from 32% in Q1, as smartphone shipments slow amid a saturated market. Samsung lowered its own chip content in the GS7 vs. the GS6. Qualcomm took four chips (including the application processor) from Samsung and replaced Cirrus Logic ( CRUS )/Wolfson on an audio chip. SK Hynix, NXP and Maxim each replaced a Samsung component. But Samsung swapped STMicroelectronics’ touch controller in the GS6 for its own controller in the GS7. And Texas Instruments ( TXN ) lost the wireless power receiver to Integrated Device Technology ( IDTI ).