Semiconductor Stocks Are Wild On The Market Due To IPhone And Intel News
Funds following semiconductor firms have had their best week in months, but it should be noted that stocks are behaving wildly with all of the technology news coming out now. VanEck and PHLX both saw gains over 4 percent in the past week, but Skyworks and Cirrus Logic might be the real winners in all of this. (I am holding a December Call option of CRUS) Skyworks is closely connected with Intel, who has recently enjoyed a large volume of trading as the company increased its revenue expectations for the quarter.
Apple's value appreciated by over 11 percent over the week, which is probably due to the large number of pre-orders of the iPhone 7. That could help to explain the 13 percent growth that Cirrus Logic enjoyed as well as the almost 14 percent gains seen by shareholders of Skyworks.
No device has ever received nearly as many pre-orders in T-Mobile's history as the iPhone 7 and 7 Plus have. Initial supplies of the iPhone 7 Plus are already sold out and parts for Apple's predecessor phones are becoming extremely rare.
Intel is also experiencing a noticeable uptick because of increased sales of desktop PC units. Laptops should also drive up demand for Intel securities, which in turn will help Skyworks as well.
Cirrus Logic: Investing in Audio & Voice Leadership