“AMS shares jumped as much as 20 percent a day after the Austrian chip maker reported first-quarter revenue above its own expectations, and said it might increase its mid-term revenue growth target on strong customer demand,” Anna Serafin reports for Reuters.
“AMS supplies smartphone makers like Apple and Samsung with optical sensors that help adjust the brightness and colours on screens,” Serafin reports. “Excitement around the iPhone 8 has boosted some Apple suppliers’ stocks so far this year. AMS has been one of the biggest beneficiaries with its shares more than doubling.”
“AMS said on Monday it expected revenues of 174 million to 181 million euros ($197.13 million) for the second quarter, a big jump from 149.3 mln euros it reported in the first quarter,” Serafin reports. “The company has also increased its capital expenditure forecast to ramp up capacities at its facilities, citing significantly increased customer forecasts and a higher revenue pipeline for 2017.”
Read more in the full article here.
MacDailyNews Take: As we wrote earlier this month:
Investing in suppliers who are heavily dependent on Apple’s business is it’s own special thrill ride.
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