Jabil Circuit (JBL) , a key Apple (AAPL) supplier, reported stronger-than-expected third quarter financial results Wednesday afternoon, which Cowen analyst Timothy Arcuri believes to be a positive read-through for Apple.

Arcuri reiterated his "Outperform" rating on the tech titan's stock with a $160 price target, arguing that Jabil's third quarter commentary "indicates no glaring issues for the iPhone launch."

Jabil's strengthening Diversified Manufacturing Services (DMS) segment, of which Apple embodies 60% of revenue, supports his view that things are going just fine for Apple for this quarter and next.

"JBL's AugQ guide for DMS of +26% Y/Y (+22% Q/ Q) and implied outlook for mobility to us supports a constructive view for iPhone units in AAPL's SeptQ," he noted.

"Our own field work suggests total iPhone supply for CQ2 remains unchanged at ~43MM units. We model sell-in of ~41.5MM (up slightly Y/Y) and sell-through could be flat to just down slightly even considering the huge ~4MM unit channel inventory draw-down in CQ2:16," he continued.

Jabil's shares fell 3% to $29.70 on Thursday in early afternoon trading. Apple's stock prices was down 1.4% to $143.16.

What's Hot on TheStreet

Beware Tesla fanboys: Tesla (TSLA) burning money, but shareholders are the likely ones to blister and feel the pain. The standard 90-day corporate equity lockup period for Tesla, following its $402.5 million stock sale of March 16, ends Thursday TheStreet reports. As a result, Tesla will be free to conduct another stock offering as soon as Thursday, which is a real possibility given the electric car company's debt situation, partly due to its Solar City investment, and need for additional cash. Any new issuance the company may seek would likely need to take place before July, which is when Tesla issues its quarterly report on car sales. Alternatively, an offering could come in late August after Tesla issues its quarterly financial report.

Shares could start to come under pressure.

Mining stocks get whipped: Global mining stocks found themselves in a hole Thursday TheStreet reports, after South Africa's government said that at least 30% of domestic mining assets should be black-owned even if previous black owners sell their stakes. South African-exposed mining companies fell sharply in the wake of the announcement. London-listed Anglo American plc (AAUKF) tumbled 4.4% to 1,013 pence ($23.87) a share, South32 Ltd fell 4% to 158 pence, BHP Billiton plc (BHP) was down 2% to 1,155 pence, Rio Tinto (RIO) fell 2% to 3,079 pence and Glencore plc (GLNCY) fell 2.6% to 279.2 pence. South African gold producers were hit even harder. Sibanye Gold Ltd. (SBGLF) plummeted 6.7% to 1,562 South African rand ($121.38) and AngloGold Ashanti Ltd. (AU) fell 4.8% to 14,015 rand.

Amazon eyes a new prize: Amazon (AMZN) may be preparing a deal to buy Slack Technologies in a deal that could value the messaging startup group at more than $9 billion, TheStreet points out. With Microsoft's (MSFT) deal for LinkedIn being well-received, this deal seems logical for an Amazon that is aggressively expanding into the cloud.

One has to wonder though: why isn't Apple (AAPL) considering Slack or for that matter, Twitter (TWTR) . Each service would provide valuable insight into human behavior from which to build new products and services.

Apple is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells AAPL? Learn more now.

Worried about how to pay for your golden years? Ken Fisher, founder of Fisher Investments, and TheStreet's Jim Cramer will tell you what you need to know in a June 21 webinar on the market trends that are shaping retirement planning today. Register here for the event, which starts at 11 a.m. ET.

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