Apple Still Sour, But Its Chip Supplier NXP Sweetens

Apple chip supplier NXP Semiconductor is on track for a fourth straight day of gains, while Apple is looking at a three-session losing streak. NXP Semi reported estimate-beating quarterly earnings late Wednesday. Its Q3 guidance also topped views. Shares rose Friday in above-average volume. Intraday, the stock crossed its 50-day moving average, an area it hasn't been above for more than a month. But it looks to be hitting some resistance at that level. NXP needs to retake the 50-day line to build the right side of its price consolidation base, which has a 114.10 buy point. The stock is currently trading about 13% below that level. Meanwhile, Apple is trying to find support at its 200-day line. The stock rebounded off of that level earlier this month, but is testing the line again after gapping down on its quarterly earnings report last week. Apple beat earnings and revenue expectations, but iPhone unit sales came in short of projections and the company didn't say how many Apple Watches it sold. NXP's fellow Apple chip supplier Qorvo also reported earnings this week: Qorvo gapped down after issuing weak guidance late Wednesday, and is now trading about 33% below its late June high. Avago Technologies and Skyworks Solutions are also trading well off of their highs.