SiTime Corporation ( (SITM) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
SiTime Corporation’s stock surged following the release of Apple’s iPhone 16e, which prominently features SiTime’s timing chips. This integration, confirmed by device teardowns, strengthens SiTime’s position in Apple’s supply chain, especially as Apple develops its internal modem technology. Analysts highlight the potential revenue boost for SiTime from future iPhone models, estimated at $30-40 million per model. The introduction of Apple’s mmWave modem technology could further enhance SiTime’s growth prospects. As a result, several analysts have increased their price targets for SiTime, reflecting its promising outlook within Apple’s ecosystem.
More about SiTime Corporation
YTD Price Performance: -31.84%
Average Trading Volume: 274,500
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $3.6B
For further insights into SITM stock on TipRanks’ Stock Analysis page.
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