5 Suppliers To Watch In Light Of Apple Stock Decline
Apple (AAPL) shares are on the spotlight again. Since closing below $500, to $485.92 on January 15, Apple’s market capitalization closed at $457.10 billion. As sentiment remains negative, a build-up could take place when Apple reports earnings on January 23. Exxon Mobile Corporation (XOM) could be a benchmark for Apple’s valuation in the meantime: the integrated oil and gas company has a market capitalization of $408.20 billion. Non-technology companies frequently become the source of comparison when negativity rises for technology and investors gain interest in the more traditional sectors.
The rumor of a cut in supply orders by Apple is even more significant for the suppliers.
These are the companies investors should watch. In no particular order:
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1. Cirrus Logic Inc. (CRUS): Develops high-precision analog and mixed-signal integrated circuits (ICs). Market cap at $1.83B, most recent closing price at $27.95.