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Wednesday, Apr 24
Are wireless chip stocks decoupling from Apple? Even with Apple off slightly as bleak June...
Are wireless chip stocks decoupling from Apple? Even with Apple off slightly as bleak June quarter guidance outweighs fresh capital returns, iPhone/iPad combo chip supplier Broadcom (BRCM +6.6%) is surging thanks to a Q1 beat and strong Q2 guidance, and is helping out some peers - QCOM +1.4%, SWKS +2.6%, INVN +1.8%, SNDK +1%. During its earnings call, Broadcom, which also provides combo chips for many Samsung phones, stated mobile chip sales only fell 1.6% Q/Q in seasonally weak Q1, and forecast sequential growth for the business (Apple-dependent Cirrus Logic sure isn't doing the same). Qualcomm reports after the close.