Technology Stocks : Wennerstrom Semi Equipment Analysis
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From: Sam9/12/2017 1:04:40 PM
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Apple’s Next: It’s All Priced into Component Makers, Says Summit Redstone
Chip content in the various new models of iPhone will be good for suppliers such as Broadcom and Qorvo, although it is mostly priced into their stocks, says Summit Redstone chip analyst Jagadish Iyer. He likes memory-chip makers Micron and Western Digital, given the rising memory content in the devices.
By Tiernan Ray
Sept. 12, 2017 9:44 a.m. ET

Summit Redstone’s chip analyst, Jagadish Iyer, writes that for component makers including Qualcomm ( QCOM) and Skyworks Solutions ( SWKS), the forthcoming Apple ( AAPL) event event this afternoon is pretty much all priced into the stocks.

Apple will host a media event at its Cupertino campus today. Tech Trader Daily was not invited, so we’ll be watching along the rest of the world on the webcast on Apple’s home page, starting at 1 pm, Eastern time.

Iyer, who is modeling Apple shipping 230 million units over four quarters, starting next quarter, predicts 90 million units will be using the organic light-emitting diode, or OLED, screen type.

Iyer writes that “while we are mostly constructive about the ramp of a new product launch from APPL and the associated dollar content growth for some semiconductor suppliers, we believe most of the positives are priced-in for the near-term."

"We continue to be most bullish on memory/storage players in the near- term. We do have some concerns about the possible future mix and allocation issues between the LCD and the OLED versions as Apple tries to ramp the latter."

Iyer offers some thoughts on various vendors.

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