Suppliers' stocks climb on Apple's success
As the old saying goes, "a rising tide lifts all boats," and that's never been more apt than in the case of Apple suppliers. As the company's fortunes have risen, so have those of the many suppliers who make the bits and pieces that go into every iPhone, iPad and other Apple products.
CNNMoney notes that Apple's shares rose almost 10 percent this morning after yesterday's earnings call. This transferred over to some semiconductor manufacturers almost immediately -- Cirrus Logic was up about 9 percent, Skyworks Solutions was up more than 6 percent, and Triquint had a bump of about 5.5 percent.
Even two larger semiconductor companies that supply Apple -- ARM (which gained 3.6 percent) and Qualcomm (up 2 percent) -- saw a solid jump in stock price today. Omnivision, a company that builds iPhone camera sensors, was up 6.2 percent on the solid Apple news.
A company didn't need to be a supplier to reap the benefits of Apple's incredible news. Zagg, which makes iPhone and iPad accessories, also jumped up about 5 percent this morning.
Subscribe to Newsletter
Software Updatesmore updates
- Vizzywig 8xHD price tag now a very affordable $49.99
- Automatic targets teen drivers with License+ service
- Dropbox adds support for TouchID
- YouTube for iOS gets updated with full support for iPhone 6 and 6 Plus
- iOS 8.0.1 update now available (Updated -- Don't update!)
- NFL Mobile updated for 2014 Season with new Fantasy Football features, NFL Now integration