Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Apple Inc.    AAPL

APPLE INC.

(AAPL)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

STMicro sees more sales growth in fourth-quarter despite Huawei ban

10/22/2020 | 06:29am EST
A logo is pictured on the factory of STMicroelectronics in Plan-les-Oautes

PARIS (Reuters) - Franco-Italian chipmaker STMicroelectronics is expecting strong demand from the car and mobile phone industries to boost sales growth in the fourth quarter as it braces for a loss of revenue from China's Huawei

The Geneva-based company, whose major clients include iPhone maker Apple and carmaker Tesla, was also positive on the outlook for 2021, helping its share to reverse declines earlier on Thursday.

STMicro said it was expecting fourth-quarter sales to grow by about 12% from the previous quarter to $2.99 billion and to generate a gross margin of about 38.5%, or two and a half percentage points higher than in the quarter that ended in September.

This forecast takes into account the loss of sales from Huawei, the world's biggest telecoms equipment maker, following new curbs imposed by U.S. authorities, which barred companies from supplying or servicing the company.

"After thirty quarters of consecutive revenue growth with Huawei, ST's revenue from Huawei in Q4 will be zero," Chief Executive Officer Jean-Marc Chery said on a call.

"We have stopped shipping any pieces to Huawei (on) Sept. 15," he said. Chery also said he expected the markets that STMicro serves to grow in 2021.

STMicro's shares were up by 1.25% at 0919 GMT, reversing losses of more than 1% earlier on Thursday.

Amit B Harchandani, analyst at Citi said: "C4Q20 sales outlook is robust though and ~9% ahead of consensus."

The Geneva-based company said its gross margin for three months ended Sept. 30 was 36%, in-line with its own forecast.

Its diluted earnings per share for the period amounted to $0.26, slightly below an analyst mean estimate of 28 cents, according to a consensus compiled by Refinitiv IBES.

Earlier this month, STMicro said a sharp rise in automotive and microcontrollers demand helped it beat its own forecast for sales in the third-quarter, setting it on course to top its 2020 guidance.

(Reporting by Mathieu Rosemain. Editing by Rashmi Aich and Jane Merriman)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. 0.29% 123.08 Delayed Quote.67.17%
STMICROELECTRONICS N.V. -2.65% 33.38 Real-time Quote.39.26%
TESLA, INC. -2.73% 568.82 Delayed Quote.579.87%
All news about APPLE INC.
12/03U.S. STATES PLAN TO SUE FACEBOOK NEX : sources
RE
12/02S&P 500 creeps to record high on stimulus hopes
RE
12/02Appeals court schedules Dec. 14 hearing on blocked U.S. TikTok new user ban
RE
12/02APPLE : Appeals court schedules Dec 14 hearing on blocked U.S. TikTok new user b..
RE
12/02Amazon in talks to buy podcast firm Wondery - WSJ
RE
12/02APPLE : PPE donation helps Zambia in the fight against COVID-19 and HIV
PU
12/02APPLE : expands partnership with (RED) to combat HIV/AIDS and COVID-19
PU
12/02APPLE : presents App Store Best of 2020 winners
PU
12/02APPLE : California Employment Law Notes - November 2020
AQ
12/02NEWS HIGHLIGHTS : Top Company News of the Day
DJ
More news
Financials (USD)
Sales 2021 315 B - -
Net income 2021 66 259 M - -
Net cash 2021 80 862 M - -
P/E ratio 2021 31,1x
Yield 2021 0,69%
Capitalization 2 093 B 2 093 B -
EV / Sales 2021 6,38x
EV / Sales 2022 6,02x
Nbr of Employees 147 000
Free-Float 99,9%
Chart APPLE INC.
Duration : Period :
Apple Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends APPLE INC.
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 43
Average target price 127,20 $
Last Close Price 123,08 $
Spread / Highest target 21,9%
Spread / Average Target 3,34%
Spread / Lowest Target -39,1%
EPS Revisions
Managers
NameTitle
Timothy Donald Cook Chief Executive Officer & Director
Arthur D. Levinson Chairman
Jeffrey E. Williams Chief Operating Officer
Luca Maestri Chief Financial Officer & Senior Vice President
Kevin M. Lynch Vice President-Technology
Sector and Competitors
1st jan.Capitalization (M$)
APPLE INC.67.17%2 086 461
SAMSUNG ELECTRONICS CO., LTD.24.55%411 757
XIAOMI CORPORATION125.42%81 371
WINGTECH TECHNOLOGY CO.,LTD17.37%20 071
FITBIT, INC.10.05%1 962
MERRY ELECTRONICS CO., LTD.-14.03%1 066