Apple supplier AMS surges on first-quarter profit beat, upbeat outlook

“Apple supplier AMS on Tuesday was upbeat on the current quarter and the rest of the year, pointing to steady orders for optical sensors from its major customer and a growing share of income from Android smartphone makers,” Kirsti Knolle reports for Reuters.

“AMS’s shares rose as much as 22 percent in a relief rally, taking them back to where they were before the company’s revenue forecast cut in November,” Knolle reports. “‘It’s the good news of a strong outlook for the second quarter sales versus expectations,’ said Martin Moeller, equity portfolio manager at Swiss private bank UBP. ‘Also, investors have been nervous about oversupply and high inventories in semiconductors, especially after the recent Intel forecast cut.'”

“When asked whether its ‘major customer’ – a reference to Apple – has become more predictable after difficulties surrounding the launch of the latest iPhones last year, Everke said on a conference call: ‘We feel very comfortable with a view of a strong second half of this year,'” Knolle reports. “AMS supplies the Californian tech group with face recognition technology but has been working on diversifying in the face of slow demand for new phones.”

Read more in the full article here.

MacDailyNews Take: As TrueDepth camera systems seep across Apple iPhone and iPad models, it makes sense that AMS AG has an upbeat outlook.

2019 iPhones could feature smaller notch thanks to new tech from Austrian Apple supplier AMS – January 7, 2019
Face ID sensor-maker AMS shrugs off second quarter loss with rise in new orders – July 24, 2018
Austria’s AMS AG, maker of Apple TrueDepth components, warns of short-term demand difficulties – April 24, 2018
Bernstein: AMS AG is biggest winner in Apple’s TrueDepth Camera system – April 10, 2018

Reader Feedback

This site uses Akismet to reduce spam. Learn how your comment data is processed.