STMicroelectronics N.V. : Apple risk at STM is nothing like other previous cases
>STM has shed 13% since 15 February, underperforming significantly - Since the high on 15 February, STM has lost ~13% vs the SOXX at -5% and IFX at -2%. Despite still very robust fundamentals (inventory levels still low, BtB >1x), rumours around potential contract losses with Apple (first Face ID, then wireless charging more recently) and the reporting of the weight in the annual report (23.9% in 2020, i.e. $ 2.4bn vs 17.6% or $ 1.7bn in 2019) have pressured the stoc...STMicroelectronics is a global independent semiconductor company that designs, develops, manufactures and markets a broad range of semiconductor integrated circuits (“ICs”) and discrete devices. Co. offers a diversified product portfolio and develops products for a wide range of market applications, including automotive products, computer peripherals, telecommunications systems, consumer products, industrial automation and control systems. Within its diversified portfolio, Co. is focused on developing products that leverage its technological strengths in creating customized, system-level solutions with digital and mixed-signal content.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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