April 30, 2019 / 1:05 PM / 6 months ago

BUZZ-IQE: One good Apple helps the bunch

** IQE moves higher after Apple supplier AMS was upbeat on the current quarter and the rest of the year, pointing to steady orders for optical sensors from its major customer

** IQE makes semiconductor wafers for chips used in Apple products, among others

** Stock 7.5 pct higher at 78.5 pence; 20.6 pct higher in 2019

** IQE missed its own annual core earnings forecast in March as weakness in the smartphone market hit demand for semiconductor components

** IQE had in Jan joined several other companies such as South Korea’s SK Hynix and Texas Instruments in issuing bleak earnings forecasts, highlighting broader technology sector weakness

** Smartphone makers, including Apple and Samsung , had tempered their sales outlook as they wrestle with a worldwide slowdown in the market

** Chipmakers get a large portion of their revenue from China and trade negotiations between Washington and Beijing have also played spoil sport

** Samsung, however, has recently struck an optimistic tone, saying it expects a pick-up in memory chip and smartphone sales

** Last week, Franco-Italian chipmaker STMicroelectronics also struck an upbeat tone for the second half of the year (Reporting by Noor Zainab Hussain in Bengaluru)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below