Update: iPhone stocks

Earlier this year, Fortune recommended stocks poised to benefit from the soon-to-launch iPhone. We look at how those stocks performed.

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By Stephanie N. Mehta, Fortune senior writer

iphone_angle.03.jpg

(Fortune Magazine) -- In "How to Dial In to the iPhone Bonanza" (May 28) we recommended a basket of stocks poised to benefit from Apple's breakthrough iPhone: AT&T (Charts, Fortune 500), the exclusive phone operator for the iPhone in the U.S.; one of the phone's chip suppliers, Broadcom (Charts); and rival Nokia (Charts), which would benefit from overall consumer interest in sophisticated phones such as the Apple device.

What happened: We gave some mixed signals. Phone giant AT&T, which got some bad press for the slowness of the data connections on the iPhone, is nonetheless up almost $3, or 7%, as of Oct. 31.

Chipmaker Broadcom hit $43 but fell back to $33 (its price when we cited it) after analysts downgraded the stock on concerns about the company's investment strategy and expenses.

Our one great call? Nokia. The Apple competitor, which is launching an online music store (sound familiar?) and is pushing into Internet services, has seen its stock climb $15, to almost $40, a 60% gain.

We were wrong about Apple (Charts, Fortune 500) itself, though. We said the stock, then trading at 32 times trailing earnings, was a risky bet. The stock now trades at 48 times earnings and has surged $89, to $190.  To top of page

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.