Title Health Products: Recovery in China after the clampdown is uninspiring so far
  Networking: China grants 5G licenses, network buildout will accelerate
  5G Industry: Carriers spending; device makers to reach operational tipping point
  Health Foods: Buy TCI (8436 TT) and Grape King (1707 TT)
  Auto Component OEM: Weak Golden September in China; waiting for policy stimulus
  High-frequency/high-speed data transfer PCB: ABF and CCL enjoy lucrative outlook
  Passive Component: Yageo is our only passive component Buy call
  Footwear: Nike¡¦s 4Q18 beat, FY2019 sales guidance raised¡XBuy Feng Tay
  Apple Supply Chain: Apple’s FY3Q18 guidance sparks supply chain optimism
  Auto Components (AM): AM business dented by FX
 
More Titles
Title:Apple Supply Chain: Apple’s FY3Q18 guidance sparks supply chain optimism
Download File:Apple supply chain FY2Q18 update 180504--sinopac.pdf 
 
Summary:
  • Buy Compeq Manufacturing (2313 TT), TP of NT$40 (11x 2018F P/E)
  • Buy Yageo (2327 TT), TP at NT$780 (15x 2018F P/E)
  • Buy TSMC (2330 TT), TP at NT$270 (4x 2018F P/B)
  • Buy Catcher (2474 TT), TP at NT$395 (11x 2018 P/E)
  • Buy Elite Advanced Laser Corporation (ELASER, 3450 TT), TP at NT$135 (15x 2018F P/E of optical application packaging EPS of NT$5.31+ 15x GEM’s 2018F EPS of NT$3.65)
  • Buy Tong Hsing Electronic Industries (THEIL, 6271 TT), TP at NT$158 (22x 2018 P/E)
  • Buy Parade (4966 TT), TP at NT$580 (21x 2018 P/E)
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    Date:2018/05/04
    Author:TaiwanResearch.com
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