Actionable news
All posts from Actionable news
Actionable news in INVN: INVENSENSE Inc,

3 best Apple suppliers to invest in for the long term

A majority of analysts recommend buying Apple Inc. stock, but a few members of the iPhone maker’s supply chain could be alternate targets for investors with a long-term strategy.

Analog Devices Inc. ADI, +0.38% , Broadcom Ltd. AVGO, +0.64% and InvenSense Inc. INVN, -1.63% are the “best positioned” of Apple’s AAPL, -0.59% current suppliers to outperform over the long term, according to Pacific Crest Securities analyst Andy Hargreaves.

The brokerage has a buy rating on all three of those stocks—in addition to Apple—despite near-term concerns related to the iPhone 7 cycle. Hargreaves has said the iPhone 7 has “limited opportunities for growth,” as some consumers wait for the 10th anniversary iPhone, which is expected to have an OLED screen and other major form-factor upgrades when it is released at the end of next year.

But he remains bullish on Apple long term, and believes Analog Devices, Broadcom and InvenSense—more than other Apple suppliers, such as Cirrus Logic Inc. CRUS, -0.19% , Qorvo Inc. QRVO, -0.55% and Synaptics Inc. SYNA, +0.20% which he has neutral-equivalent ratings on—are positioned to...