Apple's Success Boosts Suppliers Too
European suppliers, such as Imagination Technologies, rallied on Wednesday after Apple posted better-than-expected earnings.
Investors in Imagination Technologies (IGNMF) , Infineon Technologies (IFNNY) , Dialog (DLGNF) and STMicroelectronics (STM) - Get Report all reacted positively on Wednesday to Apple's (AAPL) - Get Report first-quarter results.
The news that Apple posted better-than-expected earnings saw Imagination shares jump to a three-week high and STMicroelectronics was just shy of an all-time high. Dialog Semiconductor's shares hit a 52-week high, while Infineon Technologies edged higher to €17.10 a share.
Apple's first-quarter 2017 results beat Wall Street estimates, with the company posting adjusted earnings of $3.36 per share, beating estimates of $3.22 per share. Revenue came in at $78.4 billion, beating estimates of $77.3 billion.
