SOURCE: Research Driven Investing
NEW YORK, NY--(Marketwire - Jan 15, 2013) - 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 Avago Technologies Ltd. (NASDAQ: AVGO) and RF Micro Devices, Inc. (NASDAQ: RFMD).
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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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Avago Technologies is a leading supplier of analog interface components for wireless, wireline, and industrial applications. Apple currently uses one of Avago's communications chips inside their iPhone 5. The company's net revenues for the fiscal year 2012 grew 1 percent to $2.364 billion when compared to fiscal year 2011.
RF Micro Devices is a global leader in the design and manufacture of high-performance radio frequency components and compound semiconductor technologies. The company's RF switch is used in the iPhone5. The company is scheduled to release its fiscal 2013 third quarter financial results after market on Tuesday, January 22nd.
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