Power Integrations stock rises as analyst calls it 'main winner' of iPhone change
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Power Integrations (NASDAQ:POWI) shares rose more than 4% on Thursday as a widely influential analyst called the semiconductor company a "main winner" of Apple's (NASDAQ:AAPL) pending switch to USB-C for the iPhone. 
TF International Securities analyst Ming-Chi Kuo said on Thursday that the San Jose, California-based company is the exclusive supplier of the main chip in the 20 watt customized USB-C charger for Apple's (AAPL) iconic device.
Earlier this week, Kuo said Singapore tech company LY iTech was the "primary beneficiary" of the switch to USB-C by Apple (AAPL).
Apple (AAPL) currently uses a Lightning port on its iPhone lineup and other products, such as its wireless AirPods headphones. However, a reform passed in the European Union in late 2022 now requires tech companies to use the charging standard in what it says will reduce costs and electronic waste.
Cupertino, California-based Apple (AAPL) uses USB-C charging for a number of its products, including MacBooks and iPads.
Kuo added that transition from Lightning to USB-C is likely to occur this year, with the iPhone 15, though Apple (AAPL) and other companies have until 2024 to alter mobile phones, tablets and cameras sold in the EU.
Other consumer electronics are also covered by the measure, including headphones, handheld video game consoles, e-readers and more. Laptops, however, were granted a reprieve until 2026.
Apple (AAPL) previously said requiring USB-C charging ports on iPhones would lead to increased electronics waste and would hamper innovation.
Last month, Power Integrations (POWI) raised its quarterly dividend by 5.6% to 19 cents per share.