“Apple chip supplier Skyworks Solutions got several price target increases Friday after reporting fiscal Q3 earnings that topped Street estimates and guiding above expectations for this quarter,” Michael Perrault reports for Investor’s Business Daily.
“Pacific Crest Securities analyst John Vinh, in a research note Friday, increased his target price on Skyworks stock to 120 from 110, citing ‘increasing content on the (Apple) iPhone 6S and improving Chinese demand,'” Perrault reports. “‘Skyworks expects to see better-than-normal seasonal trends in the third quarter (plus 8% quarter-over-quarter) and fourth quarter (plus 6% quarter-over-quarter) on Apple’s iPhone 6S refresh,’ Vinh said. ‘We see opportunities to gain content in higher (frequency) band counts, higher throw-count switches and diversity modules.'”
“Skyworks late Thursday reported a 61% year-over-year increase in earnings per share excluding items of $1.34 for its Q3 ended July 3. Revenue rose 38% to $810 million,” Perrault reports. “Analysts had expected $1.29 and $801.5 million.”
Read more in the full article here.
MacDailyNews Take: At least somebody’s being rewarded for Apple’s performance.
SEE ALSO:
Wall Street blew it: Apple’s stock slide isn’t the company’s fault – July 22, 2015
Nasdaq retreats amid tech selloff after Apple’s record results – July 22, 2015
Apple earnings: Good is never good enough – July 22, 2015
Cowen downgrades Apple on record quarterly earnings results – July 22, 2015
For Apple, more success raises more questions – July 22, 2015
Sorry, haters: Tim Cook confirms Apple Watch sales are much better than you think – July 22, 2015
Here’s how many Apple Watch units Apple sold – July 22, 2015
Drudge screams: ‘APPLE FUTURE QUESTIONED’ – July 21, 2015
Apple poised for $50 billion valuation loss after posting ‘disappointing’ record earnings – July 21, 2015
Apple shares plunge after ‘disappointing’ record third quarter results – July 21, 2015
MacDailyNews presents live notes from Apple’s Q315 Conference Call – July 21, 2015
Apple pulverizes the Street with record third quarter results – July 21, 2015
Skyworks opened higher and raced up $3+ bucks before selling off on triple average volume to close down over $5, ouch!
Third quarter just ended. We’re in the fourth quarter now. hmmmmm
Potential and three dollars will get you a cup of coffee.