A Top Growth Stock You May Want to Buy Right Now
Synaptics (NASDAQ: SYNA) stock has been setting the market on fire over the past six months, but Apple's (NASDAQ: AAPL) update this week that accounted for the impact of the novel coronavirus outbreak has given Synaptics a mild setback. The iPhone maker reduced its revenue guidance for the second quarter as the temporary shutdown of many of its partner stores in China related to the outbreak will impact Apple sales in the near term.
Apple also added that it is witnessing a slower-than-expected ramp-up in its supply chain. Not surprisingly, Synaptics shares have pulled back in recent sessions because of its supplier relationship with Apple. But a closer examination of what appears to be a short-term negative situation suggests this could be an opportunity for investors looking for a long-term positive smartphone play.
Why do I think that? Well, for one thing, this developer of human interface solutions delivered blowout fiscal 2020 second-quarter results this month that sent its shares flying to a new 52-week high. And the smartphone space is about to witness a major shift toward fifth-generation (5G) devices and Synaptics could be a beneficiary of the same.
Source Fool.com
