SOURCE: Research Driven Investing

Research Driven Investing

January 15, 2013 08:20 ET

Chip Suppliers Fall on Reports That Apple Has Cut Orders for iPhone Components

Research Driven Investing Provides Stocks Research on Cirrus Logic and Skyworks Solutions

NEW YORK, NY--(Marketwire - Jan 15, 2013) - Apple chip supplies fell Monday after reports that weaker-than-expected demand for the iPhone 5 have caused the company to cut orders for iPhone parts. Shares of Apple fell below the $500 mark for the first time since February. Research Driven Investing examines investing opportunities in the Semiconductor Industry and provides equity research on Cirrus Logic, Inc. (NASDAQ: CRUS) and Skyworks Solutions Inc. (NASDAQ: SWKS).

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The Wall Street Journal, citing "people familiar with the situation," reported that Apple has cut orders of screens and other handset components. Orders of iPhone 5 screens for the January-March quarter have fallen to approximately 50 percent of what Apple had initially planned, according to the WSJ. Samsung, makers of the popular Android-based Galaxy phones, has surpassed Apple as the world's largest smartphone merchant. In the third quarter, Apple was responsible for 14.6 percent of world-wide smartphone shipments, while Samsung's market share grew to 31.3 percent.

"The move indicates that sales of the new iPhone haven't been as strong as previously anticipated and demand may be waning," the WSJ stated.

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Cirrus Logic is a premier supplier of high-precision analog and digital signal processing components for audio and energy markets. For fiscal 2012, Apple accounted for approximately 62 percent of total revenues. Cirrus Logic is scheduled to release its third quarter fiscal year 2013 financial results and business outlook after market on January 24th.

Skyworks Solutions is an innovator of high performance analog semiconductors. Leveraging core technologies, Skyworks's products support various markets from automotive to smartphone and tablet applications. The company is scheduled to release its first quarter fiscal 2013 results and business outlook on January 30th.

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