“We believe Lumentum is one of two to three company’s supplying Apple with VCSEL laser diodes, which is a key technology that adds advanced 3D sensing capabilities,” Munster writes. “Given Lumentum’s comments around $200m in bookings for the rest of CY17 (up from $5m in FQ4), as well as demand trends throughout 2018, we have become incrementally upbeat on the impact Apple’s next iPhone launch will have on the company and on the augmented reality industry.”
“In total, we expect 55m 3D sensing enabled iPhone’s in 2017, going to 160m in 2018,” Munster writes. “We believe Apple’s next iPhone launch remains on track to be released in September. We anticipate the company will ship 133M units in the 2H of CY17.”
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