Analyst: Chipmaker Guidance a Good Sign for Apple’s iPhone Launch
Skyworks Solutions (NASDAQ:SWKS) revenue rose 12.1 percent over last year’s quarter to $436.1 million. Via Barron’s, Raymond James analyst Tavis McCourt notes that Skyworks Solutions is a major chip supplier to many mobile device makers, including Apple (NASDAQ:AAPL) and Samsung (SSNLF.PK).
Despite this link, McCourt is not sure that the strong quarterly results from wireless chipmaker Skyworks Solutions is a sign that Apple will surpass analysts’ expectations. According to Yahoo Finance, Apple revenue projection consensus for the June quarter is $35.09 billion and consensus EPS is $7.31.
On the other hand, McCourt notes that Skyworks Solutions’ multiple clients and analog components business make it difficult to “draw a firm conclusion.” However, he does believe that the optimistic September quarter guidance for Skyworks Solutions may indicate good news about Apple’s upcoming iPhone model launches.
“Perhaps more importantly, September quarter guidance for Skyworks was quite strong, +9 percent sequentially, which we believe is a strong signal that iPhone 5S and any other iPhone devices launching this year probably are not delayed nearly as much as recent news stories have suggested,” wrote the analyst via Barron’s.
Based on the September quarter guidance for Skyworks Solutions, McCourt believes that the upcoming iPhones will likely debut in September or early October. Some analysts have predicted that the iPhone launch would be delayed due to production challenges with a rumored fingerprint sensor and other issues relating to the new low-cost iPhone model.
Apple’s last quarterly result reported EPS of $10.09 and revenue of $43.6 billion. Those results were the first year-over-year decline in profits that Apple has produced in the last ten years. In the June quarter of last year, Apple reported EPS of $9.32 on revenue of $35 billion.
Here’s how Apple closed out the week on Friday.
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