Wintek Corp (勝華), which supplies touch-panels to Apple Inc and Nokia Oyj, said yesterday its consolidated sales reached NT$6.88 billion (US$239.6 million) last month, down 17.95 percent from the previous month.
However, last month’s sales expanded 84.77 percent from the same period of last year, the Taichung-based company said in a filing to the Taiwan Stock Exchange.
The company did not elaborate on the monthly decline in sales. Analysts at Primasia Investment Consultancy Co attributed the decline to product transition, as some of Wintek’s clients are in the process of moving their small and medium-sized products to new technologies.
In the first four months of this year, revenues totaled NT$28.23 billion, representing a 149.39 percent increase from a year earlier, Wintek said.
Wintek shares have fallen 2.3 percent since on Friday, when the company posted a more than 70 percent decline in profits during the first quarter year-on-year and a fall of about 13 percent in revenue.
Net income was NT$348 million, earnings per share of NT$0.24, in the January-to-March period, the company’s data showed.
Wintek shares closed at NT$40.15 yesterday in Taipei trading. Credit Suisse yesterday cut its target price on Wintek to NT$45 from NT$64, while CLSA lowered its target price to NT$49.6 from NT$54.3.
HORMUZ ISSUE: The US president said he expected crude prices to drop at the end of the war, which he called a ‘minor excursion’ that could continue ‘for a little while’ The United Arab Emirates (UAE) and Kuwait started reducing oil production, as the near-closure of the crucial Strait of Hormuz ripples through energy markets and affects global supply. Abu Dhabi National Oil Co (ADNOC) is “managing offshore production levels to address storage requirements,” the company said in a statement, without giving details. Kuwait Petroleum Corp said it was lowering production at its oil fields and refineries after “Iranian threats against safe passage of ships through the Strait of Hormuz.” The war in the Middle East has all but closed Hormuz, the narrow waterway linking the Persian Gulf to the open seas,
RATIONING: The proposal would give the Trump administration ample leverage to negotiate investments in the US as it decides how many chips to give each country US officials are debating a new regulatory framework for exporting artificial intelligence (AI) chips and are considering requiring foreign nations to invest in US AI data centers or security guarantees as a condition for granting exports of 200,000 chips or more, according to a document seen by Reuters. The rules are not yet final and could change. They would be the first attempt to regulate the flow of AI chips to US allies and partners since US President Donald Trump’s administration said it rescinded its predecessor’s so-called AI diffusion rules. Those rules sought to keep a significant amount of AI
Apple Inc increased iPhone production in India by about 53 percent last year and now makes a quarter of its marquee devices there, reflecting the US company’s efforts to avoid tariffs on China. The company assembled about 55 million iPhones in India last year, up from 36 million a year earlier, people familiar with the matter said, asking not to be named because the numbers aren’t public. Apple makes about 220 million to 230 million iPhones a year globally, with India’s share of the total increasing rapidly. Apple has accelerated its expansion in the world’s most populous country in recent years, bolstered
A new worry has been rippling across the stock market lately: Entire businesses, not just their employees, might be thrown out of work. While most economists say fears of an artificial intelligence (AI) job apocalypse are overblown, seismic shifts have happened in the past after big tech breakthroughs. The IT revolution of the 1990s led to a surge in productivity that sped up the US economy for several years. It also rendered companies or even industries largely redundant — from travel agents and stockbrokers to classified advertising and newspapers, or video rental stores. Economists expect AI would deliver higher productivity,
RSS