Is the Street suddenly feel better about the prospects for the handset business?
There are hints in Thursday’s stock action.
Both Skyworks (NASDAQ:SWKS) and RF Micro Devices (RFMD) have made nice moves Thursday; so has Nokia (NYSE:NOK), the leading handset company by global market share. Nokia is holding a conference this week in Stuttgart, and announced some new phone models; next week Motorola (MOT) provides a first glimpse at their new Android phones. Apple is holding an event next week as well, though the focus is likely to be on iPods, not iPhones.
I’d also note that OmniVision (NASDAQ:OVTI), which provides image sensors used in camera phones, last week provided forward guidacne that dramatically beat Street expectations.
Nothing definitive, but add it up, and you can see why interest in mobile-phone related stock might be getting a fresh look. If you have other thoughts, add them to the string below.
In Thursday’s trading:
- RFMD closed up 17 cents, or 3.8%, to $4.67.
- SWKS closed up 63 cents, or 5.6%, to $11.95.
- NOK closed up 61 cents, or 4.6%, to $13.91.