Boston, MA 09/24/2013 (wallstreetpr) – On September 22, Apple published the first rushes from its recent launch of iPhone 5S and 5C phone. The company had clocked up sales of 9 million units of the new phone sets with the newly introduced gold coloured phone getting completely sold out. Backed by such positive news most iPhone and other Apple supplier stock were up in yesterday’s trading.
Skyworks Solutions Inc (NASDAQ:SWKS) shares were up by little over 1% as of close of business on September 23. The share had gained $0.27 from its previous day close of $25.59 per share. The company stock outperformed the Technology index by over 0.7%. The Dow Jones in comparison was down 0.32% in the red. A total of 3.07 million shares of the company were traded through the day which was on par with its 65 day average trading volume. The share was trading 15% below its 52 week high valuation and was up 34% from its 52 week low pricing.
The company market capitalization was $4.8 billion with over 187 million outstanding shares. Over the past 30 days the share price has inched up close to 6 percent. In the run up to the launch of the new iPhone models, the company shares went up by almost 22% to touch 52 week high price ceiling.
Skyworks Solutions is a manufacturer of semiconductors solutions which go into the making of Tablets, Cell phones and other commercial telecommunication equipment. The other verticals which the company sells into are automobile ICU makes, broadband operators, energy conservation appliances and the defence services related communication product makers. The company in its 4Q outlook had forecasted revenue of $475 million and a $0.62 of earnings per share. It would be interesting to see if the company ups its projections for the new year based on the strong demand for the new models of iPhones.
