Apple suppliers have been moving in tandem with Apple the past few days, and with Apple's recent rout, one analyst thinks now's the time to snap some of them up.
Apple entered into correction territory earlier this week after breaking its 200-day moving average. However, on Wednesday it reversed its losing streak, closing nearly 0.7 percent higher. Names such as Advanced Micro Devices, Jabil Circuit and
Romit Shah, senior analyst at Nomura Securities, believes the recent weakness in Apple, and its suppliers, is short term. He thinks it was due to the fact that this is a transitional quarter, with the iPhone 6S expected to be released in the fall.
"The iPhone install base—only a third is converted over to iPhone 6. That's very supportive of the view that come the fall a lot of these suppliers are going to see a very strong channel build," Shah said in an interview with CNBC's "Closing Bell" Wednesday.
"Usually when you get into the fall and winter months, that's when units start to accelerate and suppliers start to see a pickup."