Technology

iPhone suppliers rise after Apple’s quarterly report

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FILE PHOTO – A police officer is silhouetted against the Apple logo in Grand Central Terminal in the Manhattan borough of New York January 13, 2015. REUTERS/Carlo Allegri/File Photo

** Shares of Apple suppliers up in extended trade after Apple’s quarterly results and guide prove not as bad as some expected

** Micron up 1.7 percent, Broadcom up 1.7 percent, Skyworks Solutions up 2 percent, Qorvo 1 percent higher

** AAPL up 5.7 percent after the bell after co reported quarterly revenue of $84.3 billion, above reduced forecast of $84 billion on Jan 2, when the co warned of weakness in China

** At current level of $163.57, AAPL has now more than recovered from the steep selloff caused by its revenue warning

** AAPL said on Tuesday its current-quarter revenue would be between $55 billion and $59 billion, largely below consensus estimate of $58.8 billion, according to IBES data from Refinitiv

** As well, S&P 500 futures trading 0.26 percent higher, pointing to positive open in Wednesday’s session

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