Apple's (AAPL) Aim to Diversify Manufacturers Pushes Pegatron to Strong Q4 Results
Get Alerts AAPL Hot Sheet
Price: $169.89 --0%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 0.5%
Revenue Growth %: -4.3%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 0.5%
Revenue Growth %: -4.3%
Join SI Premium – FREE
Apple, Inc. (Nasdaq: AAPL) shares are indicated higher following strong quarterly results from a key supplier.
Taiwan-based Pegatron Corp. reported Q4 earnings of NT$3.38 billion, from NT$2.77 billion in the same period last year. The analyst consensus was at NT$2.84 billion. Revenue for the three-month period ending December 31, 2013, fell from NT$267.04 billion down to NT$265.96 billion.
Apple has looked for manufacturing partners outside of Hon Hai Precision (Foxconn), with Pegatron being one of the main beneficiaries from the move as of recent. Pegatron previously made older iPhone models, but was selected to manufacture the iPhone 5c last year. Apple now accounts for 40 percent of the company's revenue.
Tablet, smartphone, and game console shipments are likely to fall 15 to 20 percent in Q1 from Q4, Pegatron noted. Q1 is generally the slower part of the year, with few companies launching new devices.
Apple is up 1 percent early.
Taiwan-based Pegatron Corp. reported Q4 earnings of NT$3.38 billion, from NT$2.77 billion in the same period last year. The analyst consensus was at NT$2.84 billion. Revenue for the three-month period ending December 31, 2013, fell from NT$267.04 billion down to NT$265.96 billion.
Apple has looked for manufacturing partners outside of Hon Hai Precision (Foxconn), with Pegatron being one of the main beneficiaries from the move as of recent. Pegatron previously made older iPhone models, but was selected to manufacture the iPhone 5c last year. Apple now accounts for 40 percent of the company's revenue.
Tablet, smartphone, and game console shipments are likely to fall 15 to 20 percent in Q1 from Q4, Pegatron noted. Q1 is generally the slower part of the year, with few companies launching new devices.
Apple is up 1 percent early.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Alphabet stock surges 11% to record high on Q1 earnings beat, first-ever dividend
- Apple is no longer top smartphone seller in China, data shows
- Intel slides in afterhours trading as Q1 revenue misses, Q2 outlook falls short
Create E-mail Alert Related Categories
Insiders' BlogRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!