Marketing feedback; update on build plan and 2017's iPhone
​We provide investors’ feedback after our Asia marketing trip last week. The key discussions were iPhone glass casing adoption, dual camera, iPhone’s build plan and China’s smartphone demand outlook. Most investors were cautious about the growth outlook of smartphones especially iPhone. We recommend that investors focus on companies which will benefit from new tech cycles (i.e., dual camera - Largan), market share gain (i.e., Casetek) and China’s smartphone growth recovery (i.e., Primax, Everwin). In addition, investors are wondering if iPhone’s adoption of glass casing will increase in 2H17, and we feel the market views on iPhone casing names are very divergent. Thus, we expect Catcher shares to be range bound in the near-term and expect Casetek to outperform driven by iPad’s growth recovery and the new MacBook’s launch in June.
Yuanta is a Taiwan-headquartered brokerage with a growing presence in Asia, especially across Greater China. Our team of 140+ provides cutting-edge analysis on key sectors, spread across offices in Taiwan, Hong Kong, Shanghai (A-Share), Seoul and Jakarta. With an ever-expanding coverage universe of 400+ companies, we provide in depth analysis with unique local color to investors. Consistently being voted the Best Investment Consulting Firm in Taiwan in the AsiaMoney broker poll is evidence of our strength. We target providing an extensive range of research, from small, to mid-sized, to large cap. We bring you the big, well-covered names, as well as going off the beaten track to research the less-familiar companies.
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