) shares rose 2% to $37.30 Friday. The universal PC chip maker shares were higher after the company raised its third-quarter revenue outlook.
) announced the new iPhone 7 and 7 Plus with a new A10 Fusion chipset powering the phone. It’s the first quad-core chip that the technology has brought out, featuring two high-performance cores and two low-power ones.
Apple suppliers Cirrus Logic (CRUS
) and Skyworks Solutions (SWKS
) are showing promise on Wall Street. Apple has also seen its shares rise more than 11% so far this week, as carriers say strong iPhone 7 pre-orders ahead of the retail launch. Skyworks is also closely linked to shares of Intel, whose shares traded more than 2% higher as the company raised its third quarter revenue expectations.
The new iPhone 7 is highlighting that they are expanding to include Intel, who supplies microprocessor chips. This progression of modem suppliers means that a lot of the components inside of the handset is starting to change.
In this past week, 10 analysts
have rated Apple with a 90% positive rating and a median target of $125 (8% upside). Analysts at BTIG Research maintain their "buy" rating
for Apple, "We believe that the commentary of the wireless operators over the past two days about iPhone pre-order activity is meaningful, especially in light of conservative Street expectations for Apple and the widespread belief that the marginal changes to the iPhone 7 might not be enough to stimulate device upgrades.."
have given Intel a 25% positive rating in the past week with a Median target of $35 (6% downside). Morgan Stanley notes
, "We see PC demand as lackluster, but believe a rising commodity price environment for memory and panels is leading to modest 3q system inventory build. We tweak 3q numbers higher, offset by lower 4q. We prefer buying commodity stocks/supply chain directly vs. buying Intel at current levels”.