Qualcomm December Outlook Predicted Below Consensus and 4 Stock Analyses to Track

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Apple Inc. (NASDAQ:AAPL) iPhone units estimate for the December quarter has been reduced by UBS to 38 million from 44 million as well as dropping its EPS estimate to $13.65 from $15.03 because of supply issues. The March quarter iPhone estimate of 44 million remains unchanged,and the firm does not believe that the short-term glitch is a material change. Shares have a Buy rating and a $780 price target.

Baker Hughes Incorporated (NYSE:BHI) estimates were reduced by Dahlman Rose because of declining Q3 pressure pumping prices in the U.S. along with the expectation that international results will be lower than the forecast. Shares have a Buy rating.

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Micron Technology Inc. (NASDAQ:MU): According to RBC Capital, the current valuation of Micron shares is attractive, and the firm believes that the Elpida deal will be the most influential near-term catalyst. The firm reiterates its Outperform rating and $9 price target on the stock.

Skyworks Solutions Inc. (NASDAQ:SWKS): UBS predicts that Skyworks’ December quarter will probably be affected by Apple’s issue with supply. The firm thinks that the issue is temporary and views Skyworks as being in a favorable position to benefit from its increased content in the iPhone 5 and with Samsung. The firm views any weakness as a buying opportunity, and it keeps its Buy rating and $33 price target on the stock.

QUALCOMM Incorporated (NASDAQ:QCOM)December quarter outlook may drop lower than consensus as a result of Apple’s iPhone supply issues, according to UBS, but the firm thinks that it is a one time issue. There has been no change to 2013 estimates, and the firm keeps its Buy rating and $70 price target on the stock.

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