Benzinga - by Chris Katje, Benzinga Staff Writer.
Technology giant Apple Inc (NASDAQ: AAPL) has a major event called Wonderlust on Tuesday to highlight the company’s next product cycle.
The company is expected to show off its new iPhone 15 and share details on the Apple Watch item line.
Here’s a look at some stocks of companies that are suppliers or competitors that could be volatile during and after the event.
Sony Group Corp (NYSE: SONY): Apple is expected to highlight the photograph-taking capabilities of the iPhone 15 with Sony heavily involved. With Sony already a key supplier, news of the focus on the phone’s camera could put the company heavier into the spotlight.
Qualcomm Inc (NASDAQ: QCOM): Shares of Qualcomm jumped Monday after the company signed a deal with Apple to supply the Snapdragon 5G Modem-RF Systems for upcoming iPhones in 2024, 2025 and 2026.
Related Link: Apple Wonderlust iPhone 15 Event Will Reveal Shift To Premium Products: Analyst
Skyworks Solutions Inc (NASDAQ: SWKS): The Apple supplier is among the companies that help with chips for the technology company. Some analysts have pointed to Skyworks being too reliant on revenue from Apple. As Apple develops more chips in-house, each Apple event that shows more chips made by Apple could spell bad news for Skyworks.
Taiwan Semiconductor Manufacturing (NYSE: TSM): The Taiwan-based company is a key supplier to Apple. The company could see its share price under pressure during and after the event.
Qorvo Inc (NASDAQ: QRVO): The company is a supplier for iPhones and Apple Watches, which could put Qorvo shares in the spotlight Tuesday.
Broadcom Inc (NASDAQ: AVGO): Earlier this year, Apple and Broadcom announced a new multiyear, multibillion-dollar agreement. The deal will see Broadcom develop 5G RF components for Apple.
Samsung Electronics Co Ltd (OTC: SSNGY)(OTC: SSNLF): The Apple rival in the smartphone market could see its share price impacted by highlights from the event. Samsung is also a supplier to Apple and is expected to make displays for the new iPhone 15.
Fossil Group Inc (NASDAQ: FOSL): The Wonderlust event will focus heavily on the iPhone, but many analysts expect the Apple Watch to give strong attention at the event as well. Fossil could see shares under pressure if new Apple Watch price points are well received and/or key features that set Fossil apart are included in new models.
Read Next: These 5 Big Changes In iPhone 15 Series Will Be The Stand Out Upgrades Over iPhone 14
Photo courtesy of Apple.
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