Company Update (NASDAQ:AAPL): Skyworks, Qorvo: Not Just Apple, Samsung, but China OEMs a Risk, Says Rosenblatt

[at Barrons.com] – Rosenblatt Securities’s Jun Zhang today offers up some dour words for wireless chip suppliers Qorvo (QRVO) and Skyworks Solutions (SWKS), suggesting a slowdown in smartphone sales in China bodes ill for their respective power amplifier sales. Writes Zhang, not only have Apple (AAPL) and Samsung Electronics (005930KS) estimates come down, but the entire smartphone market is looking weaker with sales by Chinese OEMS having probably peaked for the moment: It is in our view that the market has focused too much on content dollar growth and has overlooked the slower volume growth. Read more on this. Apple Inc. (AAPL) , with a current value of $540.12B, opened at $97.12. Looking at the equity, the company’s one day range is $94.95 to $97.88 and has traded between $92.00 and $134.54 over the past 12 months. AAPL shares are currently priced at 10.16x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 7.89x earnings multiple for the same period. And for those looking to make a return holding the stock, the company pays shareholders $2.08 per share annually in dividends, yielding 2.15%. In a review of the consensus earnings estimate this quarter, 39 sell-side analysts are looking at $3.23 per share, which would be $0.17 better than the year-ago quarter and a $0.02 sequential increase. Furthermore, our analysis shows the full-year EPS estimate to be $9.53, which would be a $0.31 improvement when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $76.67 Billion. If realized, that would be a 2.77% increase over the year-ago quarter. Recently, BofA/Merrill upgraded AAPL from Neutral to Buy (Jan 12, 2016). Previously, Mizuho upgraded AAPL from Neutral to Buy. The average price target for AAPL shares is $142.73, which is 46.96% above where the stock opened this morning. See more in (NASDAQ:AAPL) Similar Articles: Company Update (NASDAQ:AAPL): Here are the Albany banks that offer Apple, Samsung, Android Pay Stock Update: Apple Inc (NASDAQ:AAPL) – Qorvo Pulls Apple Chip Suppliers Down With Q2 Views Market Update: Apple Inc (NASDAQ:AAPL) – Android Circuit: Samsung Surrenders To Apple, New Galaxy Note 5 Details, Next Moto G Leaked