While it might have been excruciating for you to wait nearly two extra months for the new iPhone this year, the delay is good news for suppliers.
Given a November release for the iPhone X from Apple Inc. (AAPL) instead of the typical September release, numerous suppliers will enjoy sustained wireless revenue into 2018. Because the companies couldn't rake in the spoils of their iPhone deals until November, they've got more to gain moving into the new year than in previous cycles.
"As we look into the first quarter 2018, unlike the last two years, we expect wireless revenue to continue to grow sequentially as the ramp in demand from our North American customer this year was pushed out compared to prior years," said Broadcom Ltd. (AVGO) CEO Hock Tan on conference call on Wednesday.
Even with a later product cycle for the iPhone X, Broadcom's wireless chip revenue rose 33% annually in the fiscal fourth quarter ended Oct. 31. The chipmaker's revenue from wireless chips typically declines toward the end of the year due to seasonality, but Tan implied 2017 would see that trend change.
Broadcom stock has risen 51% since the beginning of 2017. On Thursday, shares rose 1.3% to $267.36.
Now that the 10th anniversary iPhone has launched, Broadcom isn't the only supplier who could watch wireless revenue tick higher into 2018.
Semiconductor manufacturer Skyworks Solutions Inc. (SWKS) was also set for gains. The company supplies to multiple OEMs, but Apple is among its most important clients and generated close to 40% of Skyworks' revenue last year.
Even though the supplier relies heavily on Apple, that shouldn't be a problem -- not for this year, anyway. According to FactSet analysts, iPhone sales will total $177.5 billion for the fiscal year ending September 2018, representing a 25% gain over iPhone sales last year and a 30% gain over 2016.
Skyworks stock has gained 28% since the start of the year. Shares were lower 0.58% to $95.91 on Thursday.
Cirrus Logic Inc. (CRUS) also depends heavily on Apple for its revenue, with a massive 76% of its bottom line owed to the Cupertino, California-based tech giant. A continued ramp could offer a further boom for Cirrus stock, which has slipped 11% in 2017 but traded up 0.9% to $50.18 on Thursday.
Qorvo Inc. (QRVO) is another top supplier to own amid robust iPhone deliveries. The company supplies radio frequency chips used in smartphones, with Apple as its top customer. The company's gross margins suffered some in the last quarter as it raced to manufacture enough chips to keep Apple happy during iPhone production. But now, as its revenue from iPhone deliveries trickles in, Qorvo could continue to gain.
Shares are up 31% year to date. On Thursday, Qorvo stock fell 1.4% to $69.10.
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