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Shares in British chip designer ARM and
Imagination Technologies, which supplies graphics processing to
the U.S. group, rose between 3 and 4 percent at the open as
investors cheered the news overnight.
With ARM having the highest price to earnings valuation amongst
its peers, traders said investors should look to buy into the
stock on one of the days when it slips.
"You have to be a buyer of ARM on the dip. It not only provides
Apple with chips but also Samsung, and they get all the
royalties," said Beaufort Securities sales trader Basil Petrides.
German chipmaker Dialog Semiconductor <DLGS.DE>, which counts
Apple as one of its customers, rose 1.5 percent by 0819 GMT.
Dialog makes chips that manage power consumption of consumer
electronics such as smartphones and tablet computers. Apple and
Samsung Electronics are among its main customers and its shares
are up almost a fifth this year.
Apple smashed its quarterly forecasts, selling 74.5 million
iPhones in its fiscal first quarter ended Dec. 27, compared with
a forecast of fewer than 70 million. Revenue rose to $74.6
billion from $57.6 billion a year earlier.
Profit of $18 billion was the biggest ever reported by a public
company, worldwide, according to S&P analyst Howard Silverblatt.
(Reporting by Kate Holton and Harro Ten Wolde in Frankfurt)
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