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Investing.com -- Citi analysts have placed Qorvo (NASDAQ:QRVO) and Skyworks Solutions (NASDAQ:SWKS), Inc. on an "upside 90-day catalyst watch," anticipating better-than-expected June and September quarter results for the Apple (NASDAQ:AAPL) suppliers.
This outlook is primarily driven by "pulled forward Apple demand due to tariffs."
According to Citi’s China Technology analyst, data points from Asia suggest that the Apple supply chain could see improved performance.
Furthermore, the "Asia supply chain currently expects 80-95M or stable Y/Y growth for iPhone 17 build."
Citi highlights that "Apple supply chain stocks historically outperform AAPL stock from WWDC through iPhone launch event in September."
Given these factors, Citi sees "upside risk to Jun/Sep-Q results on pulled forward Apple demand due to tariffs" for both companies, with earnings serving as the primary catalyst within the next 90 days.
Apple accounts for a significant portion of both companies’ total sales, contributing approximately 66% to Skyworks Solutions’ last reported quarter total sales, and about 47% to Qorvo’s fiscal year 2025 total sales.
Despite the short-term positive outlook, Citi maintains its "long-term concerns around increasing RF semis competition and concentration risk" for these suppliers.
However, the immediate prospect of tariff-driven demand acceleration positions both Qorvo and Skyworks Solutions for potential upside in the near term.