Chip Suppliers Dragged Down by Reports That Apple Has Cut Orders for iPhone Components
(Marketwire Via Acquire Media NewsEdge) NEW YORK, NY -- (Marketwire) -- 01/15/13 --
Apple's chip suppliers fell Monday after reports that weaker-than-expected demand for the iPhone 5 have caused the company to cut orders for iPhone parts. Shares of Apple fell below the $500 mark for the first time since February. Research Driven Investing examines investing opportunities in the Semiconductor Industry and provides equity research on Qualcomm, Inc. (NASDAQ: QCOM) and TriQuint Semiconductor (NASDAQ: TQNT).
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The Wall Street Journal, citing "people familiar with the situation," reported that Apple has cut orders of screens and other handset components. Orders of iPhone 5 screens for the January-March quarter have fallen to approximately 50 percent of what Apple had initially planned, according to the WSJ. Samsung, makers of the popular Android-based Galaxy phones, has surpassed Apple as the world's largest smartphone merchant. In the third quarter, Apple was responsible for 14.6 percent of world-wide smartphone shipments, while Samsung's market share grew to 31.3 percent.
"The move indicates that sales of the new iPhone haven't been as strong as previously anticipated and demand may be waning," the WSJ stated.
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Qualcomm is the world leader in 3G, 4G and next-generation wireless technologies. The latest version of the iPhone currently uses a 4G LTE chip supplied by Qualcomm. According to Strategy Analytics Qualcomm held a 42 percent market share of the smartphone applications processor market in the third quarter of 2012.
TriQuint Semiconductor is a leader in market diversity serving customers in mobile devices, 3G and 4G cellular base station, WLAN, WiMAX, GPS, defense and aerospace markets. The company last month debuted the world's smallest linear EDGE transmit module, which boasts best-in-class performance with 45% power added efficiency.
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Source: Research Driven Investing
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