SOURCE: Five Star Equities
NEW YORK, NY--(Marketwire - Oct 8, 2012) - Apple's chip suppliers have benefited from the immense popularity of the company and their products in 2012. In August, Apple's valuation of $623.52 billion made it the largest U.S. Company ever surpassing Microsoft. The recently released iPhone 5 set a new record for opening weekend sales, with sales topping 5 million units. Five Star Equities examines the outlook for companies in the Semiconductor Industry and provides equity research on Cirrus Logic, Inc. (NASDAQ: CRUS) and Avago Technologies Ltd. (NASDAQ: AVGO).
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While sales of 5 million iPhones during its debut weekend fell short of analysts' estimates, it was largely in part to supply issues. "While the supply issues for the iPhone 5 since launch are concerning in terms of the company's ability to fully meet demand in December, we are staying with our 49 million unit estimate for the holiday quarter," said Piper Jaffray analyst Gene Munster.
Canaccord Genuity analyst T. Michael Walkley also expects China Mobile, the world's largest carrier, to launch its first iPhone on its network in early January, just in time for the Chinese New Year in February.
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Cirrus Logic delivers highly optimized products for a variety of audio and energy-related applications. The company recently projected revenue in the fiscal second quarter to be between $170 million to $190 million, well above the $130 million projected by analysts according to Reuters. Shares of the company have gained over 30 percent in the last 3 months.
Avago Technologies is a leading supplier of analog interface components for wireless, wireline, and industrial applications. Apple currently uses one of Avago's communications chips inside their iPhone 5. The company reported that third quarter fiscal 2012 net revenues of $606 million, an increase of 5.0 percent compared with the previous quarter and 0.5 percent from the same quarter last year.
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