Shares of smartphone suppliers mixed in trading
(Associated Press Via Acquire Media NewsEdge) NEW YORK (AP) — Shares of Cirrus Logic Inc., which makes audio chips for smartphones, rose Monday after its biggest customer, Apple Inc., reported stronger-than-expected launch sales of its new iPhone models.
The stocks of other companies that make parts for smartphones were mixed.
Apple reported Monday that it sold 9 million of the new iPhones since their launch on Friday, topping analysts' expectations after early reviews damned the new iPhones with faint praise for supposedly modest improvements over last year's iPhone 5.
Tech websites were busy conducting teardowns of the iPhone 5S and 5C to determine who made what inside the new phones.
One such outfit, iFixit, said its teardown indicated that the new iPhones had parts from Qualcomm Inc., Broadcom Corp., TriQuint Semiconductor Inc., Avago Technologies Ltd. and Skyworks Solutions Inc., among others.
Canaccord Genuity analyst T. Michael Walkley cited such teardowns in telling clients Monday that Skyworks had won "strong" dollar content in some of the new iPhones' radio function and antenna switches.
Cirrus Logic has said in regulatory filings that Apple accounted for 82 percent of its sales in fiscal 2013, 62 percent in fiscal 2012, and 47 percent the year before that. The company didn't immediately return calls for comment about content in the new iPhones.
In early afternoon trading, Cirrus shares were up $1.50, or 6.8 percent, to $23.51. Shares of Qualcomm rose 5 cents to $69.11; Broadcom was down 20 cents to $27.14; Skyworks Solutions was up 15 cents to $25.74; TriQuint Semiconductor gained 8 cents to $8.22; and Avago rose 11 cents to $41.73.
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