Esekla • 13 Comments
Esekla • 31 Comments
Wed, Jul. 27, 5:48 AM
Fri, May 20, 10:56 AM
- Lam Research (LRCX +4.1%), KLA-Tencor (KLAC +2.3%), ASML (ASML +2.2%), Axcelis (ACLS +3.9%), Kulicke & Soffa (KLIC +3%), Ultratech (UTEK +3.5%), Teradyne (TER +2.3%), Rudolph Technologies (RTEC +2.6%), and Xcerra (XCRA +2.7%) are outperforming after Applied Materials (AMAT +13.2%) beat FQ2 estimates, provided FQ3 guidance that was well above consensus, and reported FQ2 orders rose 52% Q/Q and 37% Y/Y to $3.45B. The Nasdaq is up 1.2%.
- Applied's order growth was fueled in large part by display equipment orders totaling $700M, up sharply from $183M in the prior quarter and $120M a year ago. On its earnings call, AMAT said display order strength is likely to continue "over the rest of 2016," and is being driven by mobile-related OLED investments - many reports have indicated Apple plans to bring iPhones sporting OLEDs to market next year.
- OLED materials/IP provider Universal Display (OLED +5.2%) is rallying. As are display panel makers LG Display (LPL +6.5%) and AU Optronics (AUO +3.2%), each of which have been stepping up their OLED investments, and industrial laser maker Coherent (COHR +2.5%), which has recently seen an OLED-related order surge.
- Also: Applied's NAND flash-related orders more than doubled Y/Y to nearly $1B thanks to its customers' 3D NAND investments. That more than offset softer DRAM and foundry-related chip equipment demand. On the call, Applied suggested NAND orders will slow a bit in the second half of FY16, but remain strong overall. Foundry demand is expected to grow somewhat this year, with Applied gaining share. Industry wafer fab equipment demand is expected to be flat to slightly up.
- B. Riley has upgraded Applied to Buy, and several firms have hiked their targets. Cowen's Tim Arcuri thinks $3 in annual EPS is now possible. Credit Suisse's Farhan Ahmad: "AMAT is clearly outgrowing peers this year, driven by favourable mix shift within WFE (NAND/Foundry increasing, DRAM declining) and strong growth in Display (China/OLED investments)."
Thu, Apr. 28, 3:39 AM
Wed, Jan. 27, 6:50 AM
- LG Display (NYSE:LPL): Q4 Net Income of KRW 14B.
- Revenue of KRW 7,496B (-10.1% Y/Y).
Jan. 28, 2015, 9:25 AM
- LG Display (NYSE:LPL): Q4 Net Income of KRW 389B
- Revenue of KRW 8,342B (+27.4% Y/Y)
Jul. 23, 2014, 9:14 AM
- LG Display (NYSE:LPL): Q2 Net Income of KRW 256B.
- Revenue of KRW 5,979B (-9.0% Y/Y)
Oct. 29, 2013, 7:00 PM
- Though sell-side commentary on Apple's (AAPL -2.3%) FQ4 numbers was largely positive, investors decided to take profits following a 26% rally from where shares traded going into July's market-pleasing FQ3 report.
- Canaccord's Mike Walkley joined the list of analysts praising Apple's numbers; he sees Apple "well-positioned" to exceed Street estimates, even though he expects "more aggressive" 5C pricing in 2014 to boost international sales. Meanwhile, Needham's Charlie Wolf gave a thumbs-up to Apple's decision to maintain premium pricing, rather than move downmarket to better compete against cheaper Android hardware.
- While the sell-side dissected Apple's numbers, Salesforce CEO Marc Benioff is predicting new retail chief/ex-Burberry CEO Angela Ahrendts will be Apple's next CEO. Benioff declares Ahrendts "the most important hire Tim Cook has ever made."
- Also: The Korea Herald reports LG Display (LPL) and Taiwan's RiTDisplay ar expected to supply flexible OLED panels for an iWatch. A month ago, a Korean site reported the iWatch will feature a flexible OLED, and that Apple is working on prototypes sporting 1.3", 1.4", and 1.5" displays.
- More on Apple
Apr. 22, 2013, 5:08 AMLG Display (LPL): Q1 net profit of 3.49B won ($3.1M) vs loss of 129B won a year earlier and vs consensus of 76B won. Sales +10% to 6.8T won. Operating profit -74% on quarter to 151B won, hurt by falling seasonal demand and weaker sales to Apple (AAPL), which accounts for a large part of LG's sales and is due to report its results tomorrow. Analyst Pak Yuak reckons that LG's panel sales for iPads rose 192% on year but that iPhone-screen sales dropped 33%. | Apr. 22, 2013, 5:08 AM | 4 Comments
Feb. 28, 2013, 10:48 AM
A short squeeze and positive sell-side notes help Universal Display (PANL +11.4%) shoot back above $30 following its mixed Q4 results. Cowen and Deutsche both think PANL's 2013 guidance is conservative, and the former sees Samsung's Galaxy S IV, OLED TV sales, and new licenses all acting as catalysts. On the earnings call, management noted LG Display (LPL) plans to spend 54% of its 2013 capex on OLED production, and that it's discussing "commercialization roadmaps" with partners for its encapsulation tech, which is seen as key to flexible OLEDs.| Feb. 28, 2013, 10:48 AM | 2 Comments
Jan. 27, 2012, 5:05 PM
LG Display (LPL +4.3%) closed higher after delivering an encouraging Q4 report. While LG's $129.3M operating loss was slightly below consensus, revenue of $589M was slightly better. More importantly, LG, which has struggled to cope with weak TV sales, says it sees display panel prices holding steady in Q1, and expects to turn profitable in Q2. iPhone, iPad, and 3D TV panel shipments are expected to give LG a boost. (transcript)| Jan. 27, 2012, 5:05 PM
Jan. 10, 2012, 10:31 AM
Taiwanese display panel maker AU Optronics (AUO +8.7%), hit hard in 2011 by TV industry weakness, is rallying after reporting December sales of NT$27.7B ($925.2M). While the figure represents a 9.4% M/M and Y/Y drop, it was better than expected, and backs up positive comments made by AU's chairman in December. Rival LG Display (LPL +4.8%) is also up strongly.| Jan. 10, 2012, 10:31 AM
Jul. 27, 2011, 11:24 AM
LCD panel maker AU Optronics (AUO) is down 4.5% after reporting Q2 revenue and EPS of $3.41B and -$0.42, below a consensus of $3.5B and -$0.31.The company also cut its 2011 capex forecast by 30% (a negative for AMAT), and forecast "low single digit" sequential panel shipment growth. Last week, rival LG Display (LPL) also gave subdued guidance.| Jul. 27, 2011, 11:24 AM
Jul. 21, 2011, 10:47 AM
LG Display (LPL +2.2%) reports a $20.2M Q2 net profit - down 96% from last year, but ahead of the ($79.4M) consensus. The company doesn't see demand improving much until early 2012, given weak LCD TV sales, and is cutting its 2011 capex forecast by $948M - not good news for equipment makers such as Applied Materials (AMAT). (PR)| Jul. 21, 2011, 10:47 AM