BOSTON (TheStreet) -- Apple's (AAPL) blow-out fiscal second quarter, led by huge gains in sales of iPhones, will raise the prospects for a range of companies, including suppliers and even competitors, along with polishing its own reputation.
Apple, the maker of the iPad tablet, MacBook laptops and iPhone smartphone, late Tuesday reported a 94% jump in earnings to $11.6 billion and a 59% increase in revenue to $39 billion for the first three months of the year, well above analysts' estimates.
Leading Apple's bandwagon in the period was the sale of 35 million iPhones, accounting for about half of its revenue in the quarter.
Apple's share price closed at $610 Wednesday, up 9% on the day, which has to have investors thinking about what else will ride along on its coattails. Obviously, its suppliers, various chip and interface components makers, such as Broadcom (BRCM) and Qualcomm (QCOM), will benefit, along with a handful of others on the prospect that they will see a flood of new orders. Since Apple saw most of its iPhone growth in China in the quarter, that nation's service providers should eventually get a boost as more people will log on with their new iPhones and ring up big charges for sending email, surfing the Internet and making voice calls. And Apple's big gains give hopes to its competitors as well, as its success shows that there is still a huge international market for smartphones. So lower-priced providers using the Android communications platform should be able to find market share by following in Apple's footsteps. Motorola Mobility (MMI), which is about to be acquired by Google (GOOG), and Korea's Samsung Electronics (SSNLF) are the leading Android phone makers. Google, better known for its Internet search engine, has cited Motorola Mobility's library of 17,000 patents for smartphones as the impetus for its acquisition and that shows its intent on being a mobile-communications player. Here are 10 stocks that should benefit from Apple's success in selling iPhones, arranged in descending order of analysts' "buy" ratings:
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