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If you ask the average person in the street what January 17th is they will likely say it's a Friday. Ask an Apple (NASDAQ:AAPL) shareholder the same question and they might say this is the day that China Mobile (NYSE:CHL) will finally start making available its new iPhones to its ~750mm subscribers.

As I have written numerous times, Apple's recent deals with NTT Docomo (NYSE:NTT) and China Mobile should be major contributors to growth in 2014.

Power management IC supplier Dialog Semi (OTC:DLGNF), which gets ~70% of its revenues from Apple, boosted guidance yesterday which bodes well for when Apple reports earnings on January 27th in my opinion.

So what other Apple suppliers look attractive here and should benefit from Apple's increasing growth prospects in Asia? Here are two that I believe fit the bill.

Cirrus Logic (NASDAQ:CRUS) is a fabless semiconductor company that develops signal processing integrated circuits for audio solutions in mobile devices. The stock managed to buck Monday's selloff on the back of the guidance raise from Dialog Semi.

There is a lot to like about Cirrus at current levels. The company has a robust balance sheet with over $250mm in net cash which equates to over 20% of its market capitalization at its current stock price.

The stock sells at just over 7x FY2014's (which ends in March) expected earnings. Cirrus is down a third from its 52 week highs on back of concerns about ASP's (Average Selling Prices) in some of its components and is offering an attractive entry point. The stock is selling too low at just ~4x trailing operational cash flow.

Skyworks Solutions (NASDAQ:SWKS) offers analog and mixed signal semiconductors worldwide. The company provides power amplifiers and front-end solutions for smartphones. This tech stock also delivered a gain yesterday despite the market's worst performance in two months.

Revenue growth should be in the range of 8% to 11% annually over the next two fiscal years and the stock sports a five year projected PEG of under 1 (.77). Like Cirrus, the company has a solid balance sheet with over $500mm in net cash on the balance sheet. This is approximately 10% of its overall market capitalization.

Given Skyworks' growth projections and balance sheet, it sports a more than reasonable valuation of 10x forward earnings, a third below the overall market multiple of ~15x forward earnings.

Both stocks offer good value at current levels and should benefit from Apple's improving growth picture in Asia. On the back of Avago Technologies' (NASDAQ:AVGO) recent $6.6B acquisition of LSI Corp. (NASDAQ:LSI), either could also make a logical acquisition target for a larger player.

Source: Tech Suppliers That Will Ride Apple's Coattails In China