Chipmakers had another big week. Highly rated Apple (AAPL) chip suppliers NXP Semiconductors (NXPI) and Avago Technologies (AVGO) were the newest breakouts in the group. Other breakouts in recent weeks have come from Apple suppliers Skyworks Solutions (SWKS) and Qorvo (QRVO), as well as Integrated Device Technology (IDTI). This is a hot group right now, so will there be more breakouts soon? Here are five highly rated chip stocks building bases:
Top-rated Apple (AAPL) chip suppliers Qorvo (QRVO) and Skyworks Solutions (SWKS) broke out on the stock market today after introducing new products. Qorvo announced a new family of power amplifiers, which the RF chipmaker says are a key component in improving network performance. Shares jumped 4.2% to 79.73, breaking out of a 78.10 cup-with-handle base buy point in above-average volume Monday. Skyworks climbed 5.2% to 102.64, clearing a flat-base
Apple (AAPL) and Samsung chip supplier Qorvo (QRVO) gapped up on Thursday after the company reported view-topping Q4 results and guidance late Wednesday. Qorvo is benefiting from “explosive” demand for mobile data and growth in data traffic as smartphone sales, led by the Apple iPhone and Samsung Galaxy, continue to boom. The stock surged 9.1% to 75.36 shortly before the closing bell on the stock market today, retaking its 50-day moving average.