Title LED: Buy select stocks amid 1Q17 light seasonality
  Petrochemical: FCFC (1326 TT), FPC (1301 TT) our are top FPG picks
  Netcom Equipment: Rerating underway in switch sector
  PCB: FEB sales in line; resumed growth
  Marine Shipping: Rising freight rates in 2017óBuy Evergreen Marine
  Memory: Contract prices rose in FEB, will stabilize in 2H17
  Optical Communication: Strong recovery for 100G application in FEB
  Apparel: Buy Quang Viet (4438 TT, 12% upside) and Kwong Lung (8916 TT, 30% upside)
  Foundry industry sales grew 7.5% YoY in JAN to NT$91.24bn
  Steel: 1Q17 sales to soar 20% YoY amid rising raw material prices
More Titles
Title:LED: Buy select stocks amid 1Q17 light seasonality
Download File:LED industry note 170314--sinopac.pdf 
Summary:LED firmís FEB sales mostly in line: While most firms posted in-line results, Tons Lightology came up short. Now that pull-in for backlight LED stoked by Christmas holiday demand in Europe and the US has ended, we will focus on inventory preparation for consumer electronics (TV/smartphone). We believe seasonality is weighing on UTRs in the industry in 1Q17, but we will look for opportunities to buy solid companies on weakness. For now, we like Epistar.
Register online at Become Member to receive Taiwan research services. For more information, contact TaiwanResearch.com. Tel (8862) 2316-5181
©2001, 2000, 1999 SinoPac All rights reserved. Additional copyright information applies.