- Cirrus Logic (NASDAQ:CRUS +6.6%) and Multi-Fineline (MFLX +15.6%), each of which get a giant portion of their sales from Apple, were among the tech standouts on a day the Nasdaq rose 2%. Possibly helping: TSMC (up 6.6%), which manufacturers chips for Apple and a slew of iPhone suppliers (including Cirrus), posted a Q4 EPS beat and offered in-line Q1 guidance that was better than feared.
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TSMC also suggested Chinese smartphone demand (weak for much of 2015) is starting to improve. The report comes six days after Cirrus (aided by a Pac Crest upgrade and hopes of headphone smart codec design wins) rallied following an FQ3 warning that followed reports of iPhone-related order cuts. Cirrus' FQ3 report arrives on Jan. 27, the day after Apple reports.
- Multi-Fineline fell sharply yesterday after cutting its Q4 revenue guidance and forecasting a ~30% Q/Q Q1 sales drop. The circuit board maker's Q4 report is due on Feb. 4.