Seeking Alpha

Apple suppliers, Nasdaq futures sell off AH

  • Apple suppliers aren't responding well to the tech giant's FQ1 report. Though Apple beat estimates on the back of higher iPhone ASPs (the result of a mix shift towards the 5S), iPhone units (51M) fell short of Street expectations (56M-57M), and the company's FQ2 revenue guidance is below consensus.
  • Unsurprisingly Cirrus Logic (CRUS) is the biggest decliner: its shares are down 6.7% AH. Other decliners: QCOM -1.6%. BRCM -2.3%. SWKS -2.9%. AVGO -1%. TQNT -3.4%.
  • Cirrus, believed to get over 70% of its sales from Apple, reports tomorrow. Qualcomm reports on Wednesday, and Broadcom on Thursday.
  • Nasdaq-100 (QQQ) futures are down 0.8% in response to Apple's numbers.
Comments (13)
  • SWKS already reported excellent results and outlook, so the sell-off in their shares is pretty stupid.
    27 Jan, 07:19 PM Reply Like
  • I took some profits because I was afraid Apple might drag them down. I think we should have read the PR today as a statement for diversifying their business base. Might jump back in if it drops irresistibly.
    27 Jan, 08:02 PM Reply Like
  • Good call. SWKS seems like a good buy&hold play - their guidance for the next year is really good... analysts figure we'll see $40. I noticed they almost always beat&raise, so I played them with calls last release - if they dip further thanks to AAPL, I'll consider taking a long position.
    27 Jan, 09:36 PM Reply Like
  • Record sales of iphones and CRUS gets hammered to the tune of 7%. Logic be damned as expectations overshadow all.
    27 Jan, 07:29 PM Reply Like
  • agreed
    27 Jan, 07:38 PM Reply Like
  • Being a long and now LONGER..... must say the results were stellar but Tim is not the person to lead Apple. It is getting evident that Cook is just another refined version of Ballmer. We need product(s) now !!! Where is the vision. all Cook/Oppenheimer can think of are YOY metrics on a conf call? Totally frustrated
    27 Jan, 07:45 PM Reply Like
  • The sell off is an over reaction - the market is still the best place to invest your money. Apple has one of the best brands in the world. Wait until the China mobile deals gets into full swing and Carl Ichan convinces them to use some of their cash hoard to increase shareholder value. The Apple stock sb north of $600 a share.
    27 Jan, 07:47 PM Reply Like
  • unless the fall in units continues to show that AAPL is in a commodity business
    27 Jan, 08:17 PM Reply Like
  • more nonsense... solid numbers from AAPL.
    27 Jan, 08:49 PM Reply Like
  • They missed expectations on FQ2 guide.
    27 Jan, 09:06 PM Reply Like
  • Apple's valuation is a joke. If it opens 8% down tomorrow, it will have an EV of $315 billion on $45 billion of trailing free cash flow. That's a EV / FCF yield of 14.3%...strong sell?
    28 Jan, 12:10 AM Reply Like
  • Completely illogical reaction .
    28 Jan, 01:20 AM Reply Like
  • May be every one short on AAPL, or writing calls, if the market cap not big enough may be a squeeze in play.
    28 Jan, 01:50 AM Reply Like
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