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Backing up a recent Jefferies note, Digitimes reports many top phone vendors (nearly everyone...
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Thursday, June 21, 2012, 4:34 PM ETBacking up a recent Jefferies note, Digitimes reports many top phone vendors (nearly everyone besides Apple) have slashed their orders to Taiwanese suppliers, with the cutbacks expected to continue into Q3. Slowing North American smartphone growth and weak Euro phone demand are seen as the culprits. Some component suppliers saw big losses today - RFMD -6.5%, SWKS -5.4%, TQNT -6.6%, QCOM -3.3% - but then again, so did many other chip stocks (SOXX -4.1%).
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http://seekingalpha.co...
There are many new devices that will be coming onto the market at the end of the year. In order to meet that demand, component orders should increase near the last quarter. Also, consumers and businesses unsure about the direction of the economy are likely to hold off purchases as long as possible.