Canaccord Genuity on Technology/Communications & Wireless Equipment
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Price: $212.97 +4.93%
Rating Summary:
24 Buy, 33 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 5 | Down: 11 | New: 27
Rating Summary:
24 Buy, 33 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 5 | Down: 11 | New: 27
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Canaccord Genuity on Technology/Communications & Wireless Equipment
CTIA TAKEAWAYS: AT&T/T-MOBILE, JAPAN SUPPLY CHAIN & TABLET MARKET
Canaccord analyst, T. Michael Walkley, said, "Supply issues weigh on near term, but attractive stocks for H2/11 - While we believe supply disruptions create some near-term risks in terms of supply shortages and overall higher near-term component costs, we believe Qualcomm (Nasdaq: QCOM) and Apple (Nasdaq: AAPL) are attractive for longer-term investors. For our smaller capitalization stocks, we believe the sell-off in Brightpoint (Nasdaq: CELL) is overdone, and we anticipate a strong H2/11 for Ceragon Networks (Nasdaq: CRNT), Smith Micro (Nasdaq: SMSI) and Sierra Wireless (Nasdaq: SWIR)."
"AT&T acquisition of T-Mobile and impact to our coverage companies - AT&T’s proposed acquisition of T-Mobile was a key theme at CTIA. We view the acquisition as negative for larger OEMs such as Ericsson and Nokia-Siemens due to reduced capital spending from the combined entities, and lower sales from North America could adversely impact margins. However, we believe this merger could have positive longer-term impacts for smaller infrastructure suppliers such as Powerwave and Ceragon Networks. Further, we view the industry consolidation as negative for handset OEMs as we anticipate increased negotiation power for AT&T and Verizon could result in increased pricing pressure, particularly for Android smartphones."
Other highlighted points include: 1) Global supply chain impacted by Japan: post CTIA, we are cautiously optimistic; 2) Samsung tablets impressive: Apple still clear leader
Canaccord maintains a Hold rating on Powerwave (Nasdaq: PWAV), Ericsson (Nasdaq: ERIC).
Canaccord maintains a Buy rating on QCOM, AAPL and CELL
CTIA TAKEAWAYS: AT&T/T-MOBILE, JAPAN SUPPLY CHAIN & TABLET MARKET
Canaccord analyst, T. Michael Walkley, said, "Supply issues weigh on near term, but attractive stocks for H2/11 - While we believe supply disruptions create some near-term risks in terms of supply shortages and overall higher near-term component costs, we believe Qualcomm (Nasdaq: QCOM) and Apple (Nasdaq: AAPL) are attractive for longer-term investors. For our smaller capitalization stocks, we believe the sell-off in Brightpoint (Nasdaq: CELL) is overdone, and we anticipate a strong H2/11 for Ceragon Networks (Nasdaq: CRNT), Smith Micro (Nasdaq: SMSI) and Sierra Wireless (Nasdaq: SWIR)."
"AT&T acquisition of T-Mobile and impact to our coverage companies - AT&T’s proposed acquisition of T-Mobile was a key theme at CTIA. We view the acquisition as negative for larger OEMs such as Ericsson and Nokia-Siemens due to reduced capital spending from the combined entities, and lower sales from North America could adversely impact margins. However, we believe this merger could have positive longer-term impacts for smaller infrastructure suppliers such as Powerwave and Ceragon Networks. Further, we view the industry consolidation as negative for handset OEMs as we anticipate increased negotiation power for AT&T and Verizon could result in increased pricing pressure, particularly for Android smartphones."
Other highlighted points include: 1) Global supply chain impacted by Japan: post CTIA, we are cautiously optimistic; 2) Samsung tablets impressive: Apple still clear leader
Canaccord maintains a Hold rating on Powerwave (Nasdaq: PWAV), Ericsson (Nasdaq: ERIC).
Canaccord maintains a Buy rating on QCOM, AAPL and CELL
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