The announcement today of Apple's $18B Q1 profits has got me thinking of associated companies that supply Apple that must also be doing well. I hold Renishaw (LON:RSW) who make precision measuring instruments for Apple contractors in Asia and Renishaw is reporting record sales and profit guidance. Are there more Apple supply UK companies in this vein?
Ram, Thanks for the Laing/Apple connection which I wasn't aware of - Have looked at it and Laing does seem to be enjoying the explosive sales growth, nor the margins of Renishaw, so I can only conclude that its sales are not so closely aligned with Apple's sales. The Renishaw 6M interim results are out tomorrow, but in the last trading statement they signaled a doubling of 6 month profit, with more by the year end - Will be interesting to see what tomorrows outlook brings?
....Following a strong first half year, we expect to report revenue for the first half year to 31st December 2014 of approximately £224m*, an increase of 37% over the £164m for the comparable period last year. Profit before tax for the first half year is expected to be around £55m, compared with £26m last year. We continue to see good momentum in our business, with a record order book and we currently anticipate that revenue for the full year will be between £465m and £495m and profit before tax will be between £120m and £140m.
Hi iwright7
The other UK company closely linked with Apple is ARM. Here is a snippet from today's news:
"(Open): Shares in chip designer Arm Holdings rose 1.9% as the company was boosted by news of Apple's record quarterly profit.
Arm's chip designs are in many Apple products, and the US tech giant reported a profit of $18bn (£11.8bn) for the three months to 27 December
"
There have been rumours in the summer of last year that Apple is ready to reduce their reliance on Intel and switch to ARM chips, (for some of their products mind you).
Renishaw (LON:RSW) update: An excellent set of 6M Renishaw results this morning showing a strong balance sheet and an extra £5M cash on the books. Continued sales growth from Asia which is up 90% especially from "consumer electronics markets" - for which read across Apple. 2015 profit guidance up +£10M (+8%) from the early Jan trading statement. Brokers profit forecasts to catch up and likely to be further upgraded. Topped up at 8am
Trading statement today, profits are down, Far East revenue fallen. But shares are up nearly 7% how bizarre is that?
you could look at Skyworks
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=swks&insttype=&freq=&show=
and whole load of allied stocks
http://seekingalpha.com/symbol/SWKS?source=search&s=swks
