The China Post
Date: November 6, 2017
By: Wei Shu and Frances Huang
TAIPEI (CNA) – Shares of Largan Precision Co. (大立光), a smartphone camera lens
In this undated file photo, a man looks at an electronic stock board of a securities firm in Taipei. Shares of Largan Precision Co., a smartphone camera lens supplier to Apple Inc., came under pressure Monday despite its positive sales growth report for October. (CNA)
supplier to Apple Inc., came under pressure Monday despite its positive sales growth report for October, dealers said.
The company on Sunday reported a 3 percent monthly increase in October sales, far short of the market estimate of 10 percent growth, and gave a cautious forecast for its November revenue, which prompted investors to unload the stock, dealers said.
As of 12:03 p.m. Monday, shares of Largan had fallen 1.50 percent to NT$5,895.00 (US$195) on the Taiwan Stock Exchange, while the weighted index was down 0.08 percent at 10,792.36 points.
“With Largan shares moving closer to the NT$6,000 mark, many investors are being cautious and are focusing at the moment on the lower than expected sales growth,” MasterLink Securities analyst Tom Tang said. [FULL STORY]
