Apple slips even as Citi sees catalyst in iPhone 15 launch
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Apple (NASDAQ:AAPL) shares erased earlier gains and fell nearly 1% on Thursday as investment firm Citi maintained its buy rating and said the upcoming iPhone launch is likely to be a catalyst.
Analyst Atif Malik said that Apple (AAPL) is likely to outperform Skyworks Solutions (NASDAQ:SWKS) going into the event and has outperformed the chip maker by roughly 500 basis points since the early part of this month.

Some research firms have estimated Skyworks (SWKS) receives as much as 60% of its revenue from Apple (AAPL). The company is also expected to see an increase in content in the next iPhone.
Malik added that supply chain expectations are still that Apple (AAPL) will build around 85M iPhone units, which would be in line with the prior launch, though launch timing could move around depending upon supply constraints.
Skyworks Solutions (SWKS) shares fell fractionally in pre-market trading.


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