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Apple, Inc. (AAPL) shares were on a roll for most of 2012, and not long ago the stock hit a record high around $644 per share. But, a variety of concerns over the coming earnings report from the company have caused the stock to correct about 10%. The correction in Apple also seems to have helped pressure some notable stocks in companies that supply Apple as well, and this has created an opportunity to buy into the supply chain at attractive valuations. Being a supplier to Apple is likely to produce a solid growth trajectory for these companies as the range of Apple products remain very popular. Most of these companies also supply other companies, which broadens the revenue stream and lowers risk. Here are a few Apple supplier stocks that have recently dropped and now offer value:

Broadcom Corporation (BRCM) shares topped out around $39 in March and have been trending lower. This company is a major supplier to Apple as it provides specialized chips for products like the iPhone. Some investors are becoming concerned that mobile phone sales are slowing and that has been one reason why Apple and Broadcom shares have been dropping. That fear gained traction when Verizon (VZ) reported a 24% drop in iPhone sales for the quarter, and it sold about 3.2 million iPhones. The sales drop could be a warning sign, but more likely it might have been prompted by consumers delaying new purchases until the new iPhone 5 is released later this year. The launch of this phone is likely to create a sharp increase in sales, but softness could remain between now and then. This gives investors a chance to accumulate Broadcom shares at lower prices now. Broadcom stock is likely to rebound as the iPhone 5 launch draws near, and it could also benefit from the launch of other key products like Apple TV, since it might also use chips made by Broadcom.

Key Data Points For Broadcom From Yahoo Finance:
Current Share Price: $34.34
52-Week Range: $27.59 to $41
Dividend: 40 cents per share which provides a yield of 1.2%
2012 Earnings Estimate: $2.89 per share
2013 Earnings Estimate: $3.22 per share
P/E Ratio: about 11 times earnings

Qualcomm Inc., (QCOM) shares traded around $68, but have trended lower in recent days. The stock saw a significant drop when this company reported earnings and gave an outlook that disappointed many investors. It appears that demand for Qualcomm products remains strong, but the company is experiencing a manufacturing shortage for a chip that is used in many popular smartphones. For the first quarter, Qualcomm reported earnings of 84 cents per share, which compares favorably with 75 cents per share for the same quarter last year. For the full-year 2012, the company expects revenue in a range $18.7 to $19.7 billion and non-GAAP earnings to be somewhere between $3.15 to $3.30 per share. Since Qualcomm supplies chips that are used in some of Apple's very popular iPad and iPhone products, the long-term outlook remains bright, in spite of any short-term supply issues. Furthermore, Qualcomm is likely to supply chips for Apple TV, which could be launched later this year along with the iPhone 5.

Key Data Points For Qualcomm From Yahoo Finance:
Current Share Price: $61.52
52-Week Range: $45.98 to $68.87
Dividend: $1 which provides a yield of 1.6%
2012 Earnings Estimate: $3.74 per share
2013 Earnings Estimate: $4.17 per share
P/E Ratio: about 16 times earnings

Corning Incorporated (GLW) shares have been prone to declines after an earnings release, but the stock does appear to offer value now. Corning manufactures products, which include touch screen glass that is used in many popular smartphones and tablets like the Apple iPhone and iPad. This product is called "Gorilla Glass" and it is also used for flat-screen televisions. The demand for Gorilla Glass with tablets and smartphones looks solid, but demand and profit margins for televisions has been weak and this has weighed on the recent financial results and the stock price. The softness on the television side might persist and keep the shares from a substantial rebound, but the stock appears to offer real value now. Investors can buy the stock below book value, which is $13.91 per share, and collect a solid dividend yielding over 2%. Corning shares have pushed lower after reporting earnings for the past couple of quarters, so it might make sense to wait for the first-quarter earnings report, which the company expects to report on April 25, 2012.

Key Data Points For Corning From Yahoo Finance:
Current Share Price: $13.25
52-Week Range: $11.51 to $22.05
Dividend: 30 cents per share which provides a yield of 2.3%
2012 Earnings Estimate: $1.34 per share
2013 Earnings Estimate: $1.59 per share
P/E Ratio: about 10 times earnings

Data sourced from Yahoo Finance. No guarantees or representations are made.

Disclaimer: Please consult a financial advisor before making investments.

Source: 3 Stocks In The Apple Supply Chain That Offer Solid Value For Investors