Jun. 10 at 10:15 AM
$QRVO $SWKS $AAPL
Citi places 'upside 90-day catalyst watch' on Qorvo, Skyworks
Citi placed an "upside 90-day catalyst watch" on Qorvo (QRVO) and Skyworks (SWKS) while keeping a Sell ratings on both shares with price targets of
$67 and
$63, respectively. Citi's China technology analyst's data points in Asia indicate that Apple (AAPL) supply chain could see better than expected June and September quarter results on pulled forward demand due to tariffs, the analyst tells investors in a research note.
Moreover, the Asia supply chain currently expects 80M-95M or stable year-over-year growth for iPhone 17 build, the firm points out. Citi adds that the Apple supply chain stocks historically outperform Apple shares from WWDC through the Phone launch event in September. Apple contributes 66% and 47% of Skyworks and Qorvo total sales, respectively, the firm says.