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Apple iPhone 5: Reading the Tea Leaves

Skyworks Solutions also had exceptionally strong fourth-quarter guidance when it reported its third-quarter results earlier this month. The semiconductor specialist said it expects fourth-quarter revenue between $415 million and $420 million and earnings of 50 to 51 cents a share.

Share price reaction can tell a lot about a company, especially when a company misses consensus estimate, as Qualcomm did, and it still trades higher. The recent action over the past week in these names, as well as the continued leaks and rumors, is trying to tell traders something.

QCOM Chart QCOM data by YCharts

Apple is about to gear up for something very big. It's only a matter of time before we see Apple CEO Tim Cook unveil the company's latest, greatest product, most likely the iPhone 5. Soon we will see why Apple's earnings miss really didn't matter.

Interested in more on Apple? See TheStreet Ratings' report card for this stock.

Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices.

-- Written by Chris Ciaccia in New York

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SYM TRADE IT LAST %CHG
TQNT $70.07 -1.95%
AAPL $124.75 0.00%
CRUS $33.30 0.00%
QCOM $67.12 0.00%
SWKS $94.28 0.00%

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