Sep. 20, 2013, 9:24 AM
- On cue, iFixit has posted an iPhone 5S teardown shortly after Apple's latest flagship device went on sale.
- Though no motion sensor supplier is named, Barclays says its initial analysis suggests STMicroelectronics (STM) held onto the gyroscope slot, albeit while adding the evidence isn't conclusive. InvenSense (INVN), expected by many to take the slot, is down 4.3% premarket.
- Parts that are mentioned include a Broadcom (BRCM) Wi-Fi/Bluetooth combo chip and touchscreen controller, a Sony (SNE) rear image sensor (in the past, Apple has used a dual-supplier strategy featuring Sony and OVTI), a Qualcomm (QCOM) baseband modem, RF transceiver, and power management IC, a TriQuint (TQNT) power amplifier module, and two amplifier modules apiece from Skyworks (SWKS) and Avago (AVGO).
- Though the combo chip win was widely expected, Broadcom investors appear relieved about the touchscreen controller win, given rumors Renesas had taken the slot. BRCM +2.4% premarket. TQNT +1.8%.
Sep. 4, 2013, 6:28 PM
- IDC's forecast represents only a slight slowdown in growth from the 44% rate it believes was seen in 2012, and is easily more optimistic than most forecasts made earlier this year. Back in January, Strategy Analytics predicted smartphone shipments would rise only 27% this year to 875M.
- Thanks to strong smartphone demand, IDC now expects total mobile phone shipments to rise 7.3% this year to 1.8B, after declining 1.2% last year.
- Android (GOOG) is expected to claim 75.3% of 2013 shipments; its Q2 share was pegged at 79.3%. The iPhone, aided by an upcoming refresh, is expected to have a 16.9% 2013 share vs. 13.2% in Q2.
- Chipmakers with strong mobile exposure: QCOM, BRCM, SWKS, TQNT, ANAD, RFMD, SYNA, CRUS, MXIM, HIMX, OVTI, AUDC.
Aug. 30, 2013, 12:45 PM
Aug. 30, 2013, 9:15 AM
- Shares of OmniVision (OVTI) are down 13.2% PM on mixed FQ1 results and soft guidance.
- Northland downgraded OmniVision 1 notch to Perform and pulled its PT to $20 from $27.50.
- Craig-Hallum lowered its rating to Hold from Buy and reduced its PT to $18 from $24.
- Oppenheimer pulled its Buy rating earlier this morning.
Aug. 30, 2013, 9:11 AM
Aug. 30, 2013, 7:25 AM
- Oppenheimer removes its Buy rating on OmniVision Technologies (OVTI) after last night's earnings and soft guidance. "We've changed our mind on gross margin expansion."
- Notable Calls takes note of a good call at OTR Global which earlier this week was cautious on the company ahead of the earnings report.
- FQ1 results last night.
- Shares off 12.4% premarket.
Aug. 29, 2013, 5:31 PM
- OmniVision (OVTI) shares are taking a beating, down 10.3% AH after the company released mixed FQ1 results and lower-than-expected guidance. FQ2 revenue is expected to be $375M-$410M (consensus of $406.6M) and EPS is forecast to be $0.36-$0.53 (consensus of $0.49).
- CEO Shaw Hong: "[A]s competition intensified in response to the market slowdown, the forecasts for some of our products were negatively affected."
- Gross margin fell to 17.4% in FQ1 from 19.1% in FQ1 2012.
- Opex as a % of revenue fell to 12.9% in FQ1 from 19.3% in FQ1 2012. Hong: "We continue to pursue cost reductions across our supply chain."
Aug. 29, 2013, 5:31 PM
Aug. 29, 2013, 4:27 PM
Aug. 29, 2013, 12:10 AM
Aug. 28, 2013, 5:35 PM
Aug. 28, 2013, 10:49 AM
- RF component makers Skyworks (SWKS +2.7%), RF Micro (RFMD +2.9%), TriQuint (TQNT +2.5%), and Anadigics (ANAD +2.8%) are outperforming after peer Avago (AVGO +4%) blew past FQ3 estimates and issued strong FQ4 guidance, while predicting it would get a boost from "very strong product ramps in wireless." Other than Anadigics, all of the aforementioned companies are iPhone suppliers.
- Non-RF Apple suppliers Cirrus Logic (CRUS +7%), OmniVision (OVTI +2.1%), SanDisk (SNDK +2%), and Nam Tai (NTE +3.2%) are also faring well.
- On the FQ3 CC, Avago asserted once again the technical demands of 4G radios are helping it gain RF component share, and noted its "two largest smartphone customers" (Apple and Samsung) are ramping next-gen platforms (the iPhone 5S/5C and Galaxy Note 3). Avago says it expects its "content in both these platforms continue to improve substantially."
- On the wireline/networking side, Avago is upbeat about improving core router demand, the adoption of 40G switches within data centers, CyOptics' sales, and strong 10G/40G optical transceiver demand. The last two are positives for JDSU, FNSR, and NPTN.
- Goldman, RBC, and Canaccord have hiked their Avago PTs.
Jul. 24, 2013, 3:57 PMCEVA (CEVA -12.8%) is ending the day with huge losses after Broadcom, which uses CEVA's DSP cores in its baseband chips, missed Q2 estimates and issued light Q3 guidance, while blaming the shortfall in large part on light baseband sales. Chip stocks on the whole have had a bad day (SOXX -1.8%), as Broadcom's numbers and a ho-hum report from ARM overshadow Apple's FQ3 beat. SIMG -3.8%. OVTI -2.8%. MU -3.9%. SNDK -2.4%. IMOS -4.5%. Broadcom set-top chip rival STMicroelectronics (STM -2.7%) has fallen for the second day in a row following its Q2 report and soft Q3 guidance, aided by a downgrade to Underperform from BofA. | Comment!
Jul. 23, 2013, 5:25 PMApple suppliers rally in AH trading after the company beats FQ3 estimates on the back of 31M iPhone sales (above a ~26M consensus), and in spite of recording only 14.6M iPad sales (below an ~18M consensus). Apple's FQ4 guidance is light, but that was arguably priced in. CRUS +4.6% AH. QCOM +0.8%. OVTI +1.1%. SWKS +1.4%. TQNT +0.6%. Qualcomm and TriQuint report tomorrow afternoon. | Comment!
Jul. 18, 2013, 2:27 PMMobile chipmakers are selling off after Nokia's Q2 Lumia and total phone sales miss expectations, and top foundry TSMC (TSM -8.6%) provides light Q3 guidance (revenue of $5.37B-$5.48B vs. $5.48B consensus) and a 2013 industry forecast cut to go with a Q2 beat. 3 days after Digitimes reported top TSMC clients, including Qualcomm (QCOM -2.9%), Broadcom (BRCM +0.4%), and OmniVision (OVTI -1.6%), were paring orders due to weak PC and high-end smartphone sales, TSMC says it "[expects] the IC supply chain to begin managing inventories" in 2H. MXIM -3.5%. TQNT -3.1%. RFMD -3.4%. CRUS -1.6%. Goldman is defending TSMC. Skyworks (SWKS -1.3%) reports after the bell. | Comment!
Jul. 15, 2013, 11:46 AMSome of TSMC's (TSM -0.4%) top clients, including Qualcomm (QCOM -1.4%), Broadcom (BRCM -0.2%), and OmniVision (OVTI +0.3%), are slowing down their order pace and wafer starts thanks to concerns about PC and high-end smartphone sales, Digitimes reports. The report follows a light Q2 profit forecast from Samsung, weak Q2 PC shipment figures from Gartner and IDC, and a slew of negative analyst reports on high-end smartphone demand. On the other hand, MediaTek and Spreadtrum, two TSMC clients with strong low-end smartphone exposure, have posted strong numbers (I, II). Broadcom reports on July 23, and Qualcomm on July 24. | Comment!
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