Apple Suppliers on Watch on Disappointing Q1 Print and Initial Sell-Off
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Apple (Nasdaq: AAPL) supplier are on watch following disappointing results from the iPhone giant. Shares of Apple are initial down 5.8%.
Apple reported Q1 EPS of $13.81, $0.37 better than the analyst estimate of $13.44. Revenue for the quarter came in at $54.51 billion versus the consensus estimate of $54.73 billion. Apple sees Q2 revenues of $41-$43 billion versus the consensus of $45.63 billion. The Company sold a record 47.8 million iPhones in the quarter, versus the Street consensus of 47.8 million with a range of 43.1-53 million. Apple also sold a record 22.9 million iPads during the quarter, versus the consensus of 22.4 million on average, with a range of 18.4-26 million.
Suppliers:
QUALCOMM (Nasdaq: QCOM) (-1%) Broadcom (Nasdaq: BRCM) (-2%) Cirrus Logic Inc. (Nasdaq: CRUS) (-5%), Skyworks Solutions Inc. (Nasdaq: SWKS) (-4%)%, TriQuint Semiconductor, Inc. (Nasdaq: TQNT), OmniVision Technologies, Inc. (Nasdaq: OVTI), ZAGG Inc. (Nasdaq: ZAGG).
Apple reported Q1 EPS of $13.81, $0.37 better than the analyst estimate of $13.44. Revenue for the quarter came in at $54.51 billion versus the consensus estimate of $54.73 billion. Apple sees Q2 revenues of $41-$43 billion versus the consensus of $45.63 billion. The Company sold a record 47.8 million iPhones in the quarter, versus the Street consensus of 47.8 million with a range of 43.1-53 million. Apple also sold a record 22.9 million iPads during the quarter, versus the consensus of 22.4 million on average, with a range of 18.4-26 million.
Suppliers:
QUALCOMM (Nasdaq: QCOM) (-1%) Broadcom (Nasdaq: BRCM) (-2%) Cirrus Logic Inc. (Nasdaq: CRUS) (-5%), Skyworks Solutions Inc. (Nasdaq: SWKS) (-4%)%, TriQuint Semiconductor, Inc. (Nasdaq: TQNT), OmniVision Technologies, Inc. (Nasdaq: OVTI), ZAGG Inc. (Nasdaq: ZAGG).
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