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LG Display Co Ltd. Q4 2009 Earnings Conference CallJan. 20, 2010
LG Display Co. Ltd. Q1 2009 Earnings Call TranscriptApr. 17, 2009
LG Display Co., Ltd. Q3 2008 Earnings Call TranscriptOct. 14, 2008
LG Display Q2 2008 Earnings Call TranscriptJul. 9, 2008
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LPL vs. ETF Alternatives
LG Display Co., Ltd. is an innovator of thin-film transistor liquid crystal display, or TFT-LCD technology and other display panel technologies, including organic light-emitting display, or OLED, and flexible display products.
Tuesday, Apr 111:33 AM
Tuesday, Apr 111:33 AM| 13 Comments
- Reuters' Tokyo bureau reports Japan Display will begin making LCDs for a 4.7" iPhone (AAPL +0.3%) as soon as May, and that Sharp and LG Display (LPL +1.3%) are set to begin around June.
- However, production of displays for a 5.5" model is "expected to start several months later," due to challenges in producing in-cell touch sensors (used in recent iPhones) for the displays.
- The Nikkei reported last week Sharp will be ramping iPhone 6 LCD production as soon as Q2, and that two larger models are likely. Before that, the WSJ reported two larger iPhones are on tap, and that the smaller model is further along in development.
- Samsung, which has dominated the high-end phablet market to date, launched the Galaxy Note 3 in September last year.
Tuesday, Jan 219:57 AM
Tuesday, Jan 219:57 AM| 3 Comments
- 3D Systems (DDD -3%) has been cut to Neutral by Credit Suisse.
- Seagate (STX +2.1%) has been upgraded to Overweight by Morgan Stanley, and rival Western Digital (WDC +0.5%) has been upgraded to Outperform by BMO. Wesern reports tomorrow, and Seagate on Jan. 27.
- SolarCity (SCTY -3.3%) has been cut to Neutral by JPMorgan. Deutsche started shares at Buy last week.
- SanDisk (SNDK -2.3%) has been cut to Neutral by BofA/Merrill. Q4 results arrive tomorrow.
- NetApp (NTAP +2.2%) has been upgraded to Buy by Lake Street Capital.
- InvenSense (INVN -2.8%) has been cut to Hold by Needham.
- FireEye (FEYE -3.7%) has been cut to Neutral by JPMorgan following a huge run-up in the wake of the Mandiant deal and the company's guidance hike.
- Altera (ALTR +2.8%) has been upgraded to Overweight by JPMorgan ahead of Wednesday's Q4 report.
- Tibco (TIBX -2.4%) has been cut to Neutral by Wedbush. Shares rallied last week on a report suggesting Dan Loeb is set to make an activist push.
- NetSuite (N +1.1%) has been upgraded to Buy by Maxim.
- Violin Memory (VMEM -3.7%) has been cut to Underweight by Barclays.
- Motorola Solutions (MSI +1.8%) has been upgraded to Buy by Citi.
- LG Display (LPL +3.2%) has been upgraded to Buy by BofA/Merrill.
Tuesday, Oct 292013, 7:00 PM
Tuesday, Oct 292013, 7:00 PM| 22 Comments
- 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
Friday, Oct 182013, 9:34 AM
Friday, Oct 182013, 9:34 AM| Comment!
- AMD (AMD -12.7%) has been cut to Neutral by BofA/Merrill after beating Q3 estimates and providing above-consensus Q4 revenue guidance, but also reporting a 15% Y/Y drop in CPU division sales due to PC weakness.
- Verizon (VZ +0.8%) has been upgraded to Buy by Stifel a day after beating Q3 estimates and reporting better-than-expected mobile subscriber adds.
- Amazon (AMZN +2.4%) has been upgraded to Buy by UBS ahead of its Oct. 24 Q3 report.
- VMware (VMW +2.8%) has been upgraded to Overweight by JPMorgan ahead of Monday's Q3 report.
- T-Mobile USA (TMUS +2.7%) has been added to Goldman's Conviction Buy list ahead of its Nov. 5 Q3 report.
- Intuit (INTU +2.6%) has been upgraded to Buy by BofA/Merrill.
- Align Technology (ALGN +24.4%) has been upgraded to Buy by Cantor following its Q3 beat.
- LG Display (LPL -0.2%) has been cut to Hold by Craig-Hallum after issuing a Q4 warning.
- Ultratech (UTEK -10.2%) has been cut to Hold by Canaccord following its Q3 miss.
- Sierra Wireless (SWIR -1%) has been cut to Market Perform by Raymond James; Q3 results arrive on Nov. 7.
- Aspen Technology (AZPN -0.9%) has been cut to Neutral by JPMorgan.
- Analog chipmakers International Rectifier (IRF -1.7%) and Monolithic Power (MPWR -1.3%) have been cut to Market Perform by Wells Fargo.
- U.S. Cellular (USM -1.2%) has been started at Underperform by FBR.
Thursday, Oct 172013, 10:55 AM
Thursday, Oct 172013, 10:55 AM| Comment!
- LG Display (LPL +0.3%) warns Q4 profit will fail to match Q3 highs due to falling TV panel prices.
- CFO James Jeong: "Given weak profitability that TV manufacturers are having right now, it'll be difficult to expect panel prices to rebound any time soon, but their rate of decline is likely to slow down." To counter the trend, LG Display is focusing on bigger-ticket items like ultra high-definition panels.
- TV displays represented 44% of revenue in Q3, down from 47% in the previous year. Mobile displays drove revenue in Q3 and composed 25% of sales from 24% in the previous year.
Friday, Oct 112013, 9:23 AM
Friday, Oct 112013, 9:23 AM| 15 Comments
- Intel (INTC) has been cut to Neutral, and Nvidia (NVDA) to Underperform, by Macquarie. Intel's Q3 report arrives on Tuesday. Intel -0.6% premarket, Nvidia -0.9%.
- Micron (MU) has been cut to Underperform by Wells Fargo following its FQ4 results (I, II) and FQ1 pricing guidance. Shares -2.1%.
- Synaptics (SYNA) has been cut to Neutral by JPMorgan two days after announcing the Validity Sensors deal and forecasting strong FQ1 sales. Shares -1.5%.
- Corning (GLW) has been cut to Neutral by Piper. Shares -1%.
- Iron Mountain (IRM) has been cut to Underweight by Barclays a day after announcing CFO Brian McKeon is leaving. Shares -2.2%.
- LG Display (LPL) has been upgraded to Buy by Citi.
- Diodes (DIOD) has been upgraded to Buy by Longbow.
Monday, Oct 72013, 11:17 AM
Monday, Oct 72013, 11:17 AM| 3 Comments
- Samsung (SSNLF.PK, SSNGY.OB), by far Universal Display's (OLED +3.7%) largest customer, says it has begun mass-producing a 5.7" 1080p flexible OLED panel, and soon plans to launch a phone that makes use of them. A variant of the Galaxy Note 3 (has a 5.7" 1080p display) is a good possibility.
- OLED-Info.com estimates the manufacturing line being used by Samsung can produce a few hundred thousand flexible 5.7" panels per month.
- Meanwhile, LG Display (LPL -0.9%) says it will start mass-production of a 6" curved OLED, while deeming it "the world’s first flexible OLED panel for smartphones." A source tells Reuters LG Electronics (LGEIY.OB) will use the panels to launch an expected curved display phone next month.
Wednesday, Oct 22013, 9:44 AM
Wednesday, Oct 22013, 9:44 AM| 11 Comments
- Reuters reports the retina iPad Mini (AAPL -0.5%) "could be available in only limited quantities this year, if at all," thanks to display manufacturing challenges.
- Sources say Apple's supply chain is just beginning to gear up to make displays for the tablet, and that Apple delayed certifying display manufacturers; LG Display (LPL), Samsung Display, and Sharp (SHCAY.PK) reportedly competed to supply panels.
- Bloomberg previously reported a retina Mini and 5th-gen iPad would arrive this year, and the WSJ reported "mass production" of a retina Mini would start in Q4. Reuters' report comes as Amazon rolls out new Kindle Fires with high-res displays, and a couple months after Google rolled out a second-gen Nexus 7 with a high-res display to good reviews.
- Separately, Apple has hired Jean-Francois Mule, once an SVP for cable TV R&D consortium CableLabs, to be an engineering director. That's boosting speculation the company is working on set-tops that provide direct access to pay-TV content.
- Previous: Apple/Time Warner Cable report, talks with media giants
Tuesday, Oct 12013, 9:21 AM
Tuesday, Oct 12013, 9:21 AM| 5 Comments
- Canaccord's Jonathan Dorsheimer has downgraded Universal Display (OLED) to Sell and lowered his PT to $19 from $30. Most importantly, he says checks indicate Samsung Display and LG Display (LPL) have in-house R&D programs to create their own phosphorescent OLED materials. He thinks production could begin after Universal patents expire in 2017.
- Dorsheimer is also concerned about OLED TV push-outs.
- Samsung recently bought OLED materials provider Novaled. Universal shares dove when the deal was first reported, but recouped some of their losses after analysts argued Novaled's materials are complementary.
- OLED -7.6% premarket.
Tuesday, Sep 242013, 1:32 PM
Tuesday, Sep 242013, 1:32 PM| 1 Comment
- Samsung Display and LG Display (LPL +2.1%) have settled their contentious legal battle, which resulted in multiple display patent lawsuits and accusations of trade secret theft.
- Samsung says it has "come to an agreement with LG Display to focus on finding ways to cooperate on patent matters though discussions, and to immediately drop lawsuits" related to LCD and OLED IP.
- The settlement is an incremental positive for Universal Display (OLED +0.8%), which counts both companies as licensees (but currently gets far more revenue from Samsung). In addition to standard mobile OLED displays, both Samsung and LG are working on flexible OLEDs and OLED TV displays.
- Samsung Display was spun off from Samsung Electronics in 2012.
Thursday, Sep 122013, 9:02 AM
Tuesday, Aug 202013, 11:09 AM
Tuesday, Aug 202013, 11:09 AM| Comment!
- Citi notes prices for large-sized TV panels are down another ~$2, or ~1%, in August, and that DisplaySearch expects "continued price pressures during the seasonal build period as demand remains uncertain."
- The firm also observes soft PC demand is affecting TV panel prices (by hurting the supply/demand balance), and that tablet panel prices are down 1%-5% due to rising supply.
- With over 70% of Corning's (GLW -1.1%) net income stemming from display glass sales, Citi is reiterating a Neutral on the company, even though it considers its dividend, cash generation, R&D, and manufacturing abilities "impressive."
- Soft TV panel prices also stand to impact AU Optronics (AUO +0.7%) and LG Display (LPL -0.6%).
- Corning's Display Technologies unit posted 21% Y/Y rev. growth in Q2. Q3 LCD glass volumes were forecast to be up slightly Q/Q, and price declines on par with Q2.
- LCD driver IC vendor Himax recently forecast its Q3 large-panel driver sales will be "sluggish" thanks to soft TV/laptop demand and the end of China's TV subsidy program.
Thursday, Aug 12013, 9:37 AM
Thursday, Aug 12013, 9:37 AM| 11 Comments
- "Mass production" of an iPad Mini (AAPL +0.9%) sporting a retina display made by Samsung (SSNLF.PK), Sharp (SHCAY.PK), and LG Display (LPL) will reportedly start in Q4. No word on whether the device will also launch in the quarter, or in Q1 2014, as others (I, II) have suggested.
- 9to5 Mac just reported iOS 7 SDK code indicates a non-retina Mini is also on tap. Will Apple offer a non-retina model for less than $300 to take on cheaper, share-gaining, 7" Android tablets?
- Recent reports have also indicated Apple, in spite of its obvious differences with Samsung, plans to continue using the company as a chip foundry partner (along with TSMC), and will rely on it to supply thin LCD glass.
- AU Optronics (AUO +3%), which (together with LG Display) supplies LCDs for the current Mini, reportedly won't be a retina Mini supplier.
- Previous: Misek hikes PT to $540
Friday, Jul 192013, 1:10 AMApple (AAPL) roundup: 1) The NYT reports Apple has talked with pay-TV providers other than Time Warner Cable about Apple TV-based content access, and is looking to "collect a [per-user] fee." 2) 9to5 Mac reports Apple has added medical sensor and fitness experts to a wearable computing team, and has "experimented" with many wearable computing designs. All signs suggest the team is working on an iWatch. 3) Digitimes reports Apple is testing Ultra HD panels, and is talking with LG Display (LPL) about buying panels. Rumors about Apple prototype TV sets have been around for a while. 4) Wells Fargo notes Verizon's Q2 iPhone sales fell only 4% Q/Q vs. 16% last year, and thinks this could lead FQ3 iPhone sales to top its 26M-unit forecast. |Friday, Jul 192013, 1:10 AM| 6 Comments
Tuesday, Jul 92013, 6:40 PMChinese LCD panel shipments are expected to fall 5% Y/Y in Q3 to 13M-13.3M, "market observers" tell Digitimes. The government's recent decision to end TV subsidies is seen taking a toll in a market that has been a bright spot for an industry that hasn't had many lately. Yesterday, Digitimes reported 42/50/55-inch TV panel prices are expected to fall 2% in 1H July thanks to Chinese weakness. Corning (GLW), AU Optronics (AUO), and LG Display (LPL) are among the companies that could be affected. Some of these concerns have arguably been priced in since May. |Tuesday, Jul 92013, 6:40 PM| Comment!
Monday, Jun 242013, 9:37 AMThe new and (barely) hawkish Fed has Ciitgroup upgrading a number of broker-dealers and asset managers. Schwab (SCHW) gets a 2-notch upgrade (to Buy from Sell) as higher rates mean it can stop the waving of money-market fees that has taken a huge chunk out of the bottom line. FXCM is also lifted to Buy, and price targets are hiked at TD Ameritrade (AMTD) and LPL Financial. |Monday, Jun 242013, 9:37 AM| 1 Comment