Luxshare Precision Industry's Apple Exposure Likely to Keep Core Business Resilient
Dow Jones
Sep 07
0507 GMT - Luxshare Precision Industry's leading exposure to iPhone maker Apple likely makes its core business more resilient than other generic Android phone original design manufacturers, say DBS Group Research analysts in a note. The electronic-components maker is facing lower build volumes and weaker factory utilization amid a memory shortage and slower recovery in low- and mid-tier Android smart phones and tablets, they say. However, the company's premium customers, including Apple, should support its electronic-components business, with new product wins, customer-share gains and growing participation in artificial-intelligence-enabled wearables likely to offset some drag, they add. DBS retains its hold rating and 64.0 yuan target price. Shares rise 2.6% to 55.73 yuan.
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