Report
Seth Sherwood

Despite Growing Pains, AMS Remains on Track for 3-D-Sensing Growth; Maintain CHF 93 FVE

AMS AG announced first-quarter results that were in line with our forecast, but the bigger story is a considerably disappointing forecast, with declining earnings and revenue in the second quarter due to lagging Apple iPhone X sales and factory overcapacity. It appears that Apple will significantly reduce production of its iPhone X (and perhaps not sell this version of the device past 2018), but it has not yet solidified the design of its successor model, leaving AMS with an air pocket of limite...
Underlying
Ams AG

AMS provides advanced sensor and analog solutions for high value and emerging markets. Co.'s markets include Consumer and Communications and Industrial, Medical, Automotive. Co. delivers a broad range of innovative technology solutions for consumer electronics and communication device manufacturers including intelligent light sensors, MEMS microphone ICs, NFC solutions, active noise-cancelling ICs and ultra-low power management solutions. Co. offers customized, application-specific integrated circuits and standard solutions for a broad range of industrial applications including automation and control, position sensors, building automation, security and high-resolution seismic analysis.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Seth Sherwood

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