Market Overview

Cantor Analysts Tour The Far East; Here Is What They Say About Apple And Corning

Share:
Cantor Analysts Tour The Far East; Here Is What They Say About Apple And Corning

In a report published Tuesday, Cantor Fitzgerald analyst Brian White commented from the Far East, where he is conducting a fact finding mission in meeting with key LCD supply chain companies.

White noted that a meeting with an unnamed LCD supply chain company highlighted a weaker-than-average performance in February, driven by softness in the smartphone market, combined with weak trends in a next-generation, consumer-related program.

The analyst continued by stating that a Korea-based smartphone customer began an "inventory correction" in the fourth quarter 2014 and this is expected to continue into the second quarter of this year. Another customer program that was planned to launch in the second quarter received a 20 percent to 30 percent cut to its sales forecast.

White stated that the smartphone market in China was specifically called out as showing softer-than-expected trends with both local brands and international brands losing market share to Apple Inc. (NASDAQ: AAPL), with the analyst's contact stating that "the people want Apple" in China.

White also discussed Corning Incorporated (NYSE: GLW)'s Iris Glass, noting that new programs are poised to offset "lackluster" smartphone demand. However, a component contact also stated that Corning's Iris Glass "may prove too expensive for the TV industry to swallow."

Shares of Apple are Buy rated with a $180 price target.

Shares of Corning are Hold rated with a $20 price target.

Latest Ratings for AAPL

DateFirmActionFromTo
Sep 2019MaintainsNeutral
Sep 2019MaintainsStrong Buy
Sep 2019MaintainsEqual-Weight

View More Analyst Ratings for AAPL
View the Latest Analyst Ratings

Posted-In: Apple China Brian White Cantor Fitzgerald Corning Iris Glass iPhone China LCDAnalyst Color Analyst Ratings Best of Benzinga

 

Related Articles (AAPL + GLW)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
ARMKBarclaysMaintains45.0
HDDZ BankDowngrades
COGWolfe ResearchUpgrades
MLHRSidoti & Co.Maintains45.0
ICFISidoti & Co.Maintains99.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

USD/CAD Little Changed

Top Performing Industries For March 31, 2015