A ton of quarterly earnings will be issued next week, with a lot of the spotlight on Apple (AAPL). Let’s focus in on five chipmakers, including some Apple suppliers, that are on tap to report: Macom Technology (MTSI), Cavium (CAVM), Cirrus Logic (CRUS), Skyworks Solutions (SWKS) and Microsemi (MSCC) . Macom Technology has an IBD Composite Rating of 98 out of 99 and reports on Tuesday. Analysts expect earnings to rise 3% with revenue down 1%.
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%.