This week started off the earnings parade for the semiconductor names, beginning with Intel on Tuesday, and will close out with Advanced Micro Devices on Thursday, with another 10 companies in between.
Lately, earnings have been largely mixed for companies in this space, creating a noticeable divide between the haves and the have-nots. Major players like Ambarella and Nvidia continually crush expectations while others like AMD find it difficult to stimulate growth. Still, overall worldwide semiconductor sales are steadily declining, largely due to the slowdown in China, currency headwinds and weak PC market.
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Meanwhile, Apple's meager sales growth last quarter is expected to continue until the release of the iPhone 7, thereby forcing suppliers to scale back production. The biggest names impacted by this include Cirrus Logic and Qorvo, which have already posted weaker guidance on first quarter earnings.