Evercore ISI Sees Analog Devices (ADI) Possibly Losing Apple (AAPL) Business, Texas Instruments (TXN) To Relatively Outperform
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Get Alerts ADI Hot Sheet
Price: $406.19 +0.06%
Rating Summary:
33 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 14 | New: 37
Rating Summary:
33 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 14 | New: 37
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Analog Devices (NASDAQ: ADI) shares are volatile Monday morning as Evercore ISI analyst CJ Muse releases commentary noting ADI appears likely to lose Apple (NASDAQ: AAPL) business in OLED phone in 2017 compared with Muse's estimate for 2018.
The firm expects a decision in the coming weeks and says implications could be a loss of 12 percent on EPS/FCF by 2018. Downside is into the $70s for ADi shares and Texas Instruments (NASDAQ: TXN) is expected to outperform ADI until this news is reflected in ADI stock price.
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