Barclays U.S. Wireless Equipment: Handset Themes for 2012 Ahead of MWC
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Rating Summary:
25 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
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Barclays U.S. Wireless Equipment: Handset Themes for 2012 ahead of MWC
Analyst, Jeff Kvaal, said, "Ahead of the Mobile World Congress (MWC) trade show and following a solid 4Q11, we rebalance our global handset estimates and identify likely themes for the coming year. A minimal decline in our overall estimates belies material shifts between the share gainers and losers. Our top handset picks ahead of MWC are QUALCOMM (Nasdaq: QCOM), Nokia (NYSE: NOK), and Apple (Nasdaq: AAPL)."
"We lower our bottoms up 2012 estimate from 10% unit growth to 8%: We anticipate smartphone growth of 40%, above consensus of 30%. We assume a 6% decline in feature phones that brings volumes to 1.7bn. Gains at Samsung, Apple, Huawei, and ZTE offset declines at Nokia, RIM (Nasdaq: RIMM), HTC, and Motorola Mobility (NYSE: MMI)(Nasdaq: GOOG). We model 8% growth in 2013."
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Analyst, Jeff Kvaal, said, "Ahead of the Mobile World Congress (MWC) trade show and following a solid 4Q11, we rebalance our global handset estimates and identify likely themes for the coming year. A minimal decline in our overall estimates belies material shifts between the share gainers and losers. Our top handset picks ahead of MWC are QUALCOMM (Nasdaq: QCOM), Nokia (NYSE: NOK), and Apple (Nasdaq: AAPL)."
"We lower our bottoms up 2012 estimate from 10% unit growth to 8%: We anticipate smartphone growth of 40%, above consensus of 30%. We assume a 6% decline in feature phones that brings volumes to 1.7bn. Gains at Samsung, Apple, Huawei, and ZTE offset declines at Nokia, RIM (Nasdaq: RIMM), HTC, and Motorola Mobility (NYSE: MMI)(Nasdaq: GOOG). We model 8% growth in 2013."
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