Apple Supplier Shares Largely Flat After Earnings

By Caitlin HustonMarketsMarketWatch Pulse

Apple Inc.'s earnings beat Tuesday and subsequent stock gains did not appear to be carrying over to its suppliers Wednesday. While shares of Apple were up 5% in premarket trade Wednesday, shares of Micron Technology Inc. , a semiconductor company, were up 1%. Shares of Analog Devices , another semiconductor company, were up 0.4%. Shares of FoxConn , an electronic contract manufacturing company, were up 0.8%. Shares of Jabil Circuit Inc. , which makes iPhone casings for Apple, were flat in premarket trade, as were shares of semiconductor company Cirrus Logic . Shares of Qualcomm Inc. were up 0.5% in premarket trade Wednesday, despite the fact that Apple recently filed a lawsuit against the company and offered commentary on it on the call Tuesday. The S&P 500 was down 0.1% in premarket trade Wednesday.

Copyright © 2017 MarketWatch, Inc.

Continue Reading Below