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