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IQE starts production for second major customer at Newport plant
The production contract, serving the Android supply chains, is for Vertical Cavity Surface Emitting Lasers, an important part of multiple current and future 3D sensor systems, IQE said. "The resulting volume demand will see the IQE owned world’s largest VCSEL facility at Newport yield significant financial returns over the medium term," Peel Hunt analysts said. The company, which makes semiconductor wafers for chips used in Apple Inc, on Tuesday outlined a handful of new supply chains in Asia from which it expects significant orders.
Wed, 24 Jul 2019 07:03:53 +0000Read moreIs it time to buy the IQE share price after falling 50% in a year?
Shares in IQE plc (LON: IQE) have slumped. Is it worth catching this falling knife?
Tue, 23 Jul 2019 09:40:22 +0000Read moreUPDATE 2-Upbeat earnings, weaker pound lift FTSE 100 to more than 2-week high
Britain's FTSE 100 hit its highest level in more than two weeks on Tuesday, helped by broad gains on a combination of generally positive corporate results from Wall Street and Europe and bets that major central banks would cut interest rates soon. The main index jumped 0.6% as its internationally-exposed stocks gained on a weak sterling after eurosceptic Boris Johnson won the Conservative Party leadership, clearing the way for him to become prime minister. The domestically-focussed FTSE 250, which has broken ranks with the local currency in recent months, defied the drop in the pound and rose 0.5%.
Tue, 23 Jul 2019 08:37:35 +0000Read moreUPDATE 2-UK's IQE reassures investors with Asian orders
Cardiff-based IQE Plc expects new supply chains in Asia to provide significant orders, the supplier of semiconductor wafer to Apple Inc said on Tuesday, sending its shares up more than 13%. The contract wins helped soothe investors nerves around the tech supplier, and IQE shares rose 13.5% to 58.6 pence on Tuesday. IQE said then it had seen a reduction in forecasts from several chip customers in its wireless and photonics units, hitting anticipated revenues for those businesses.
Tue, 23 Jul 2019 06:41:57 +0000Read moreEuropean Tech Stocks Reach One-Year High on U.S.-China Truce
(Bloomberg) -- European technology stocks reached the highest level since June 2018 after the U.S. and China signaled a truce in the trade dispute, and the U.S. said it would permit some companies to do business with blacklisted Huawei Technologies Co.Chipmakers in Europe have taken a hit since the U.S. blacklisted China's Huawei and scores of its affiliates around the world in May. That decision also exacerbated trade tensions between the U.S. and China, hurting chipmakers since China is a key end market for their components. Two silicon wafer companies, the U.K.’s IQE Plc and Germany’s Siltronic AG, both warned last month about the impact of the ban, and the broader effect of the trade war on the semiconductor sector.The Stoxx 600 Technology sub-index rose as much as 2.5%, the most intraday since April 24, with semiconductor firms leading the charge. AMS AG, STMicroelectronics and Infineon Technologies AG all surged, as did chip equipment makers like ASML Holding NV and ASM International NV.Conversely, telecoms equipment groups Nokia Oyj and Ericsson AB have benefited from the blacklisting of Huawei as it removed a key competitor for contracts to build the next generation of 5G mobile networks. Those two were among the worst performers in a mostly green tech sector on Monday morning.Here’s what analysts are saying:CowenCurtailing restrictions on Huawei “could temporarily improve sentiment” on the semiconductor capital equipment group. Although most of these companies, such as ASML and Applied Materials Inc., don’t sell directly to Huawei, they’ve been affected by recent semiconductor supply chain disruptions, the analysts said.Morgan Stanley“A resumption in trade talks is a step in the right direction, although it will not cure the fundamental problem of weaker demand and excess inventory that continues to plague semis. A resolution on trade could provide an important catalyst to help demand, but as of right now it feels like status quo.”Oddo“The readacross is positive for the smartphone market and the semiconductor market as the U.S. and China converge toward a deal. The halt on additional tariffs should also bring some stability to the semiconductor market.”Liberum“These moves are positive for the entire tech industry, especially semiconductor suppliers. The semiconductor down cycle is currently at its trough” with a new up cycle expected to start from the second half of the year, the analysts said.“The removal of sanctions on Huawei and the holding off of additional tariffs is likely to strengthen the recovery in coming months.’’New Street“First of all, it is worth noting this is not a full lift; tensions will remain. Second, it means China will accelerate the development of alternative supply chains and ecosystems. It means investments will probably accelerate, to the benefit of the semicap equipment industry.’’“On the 5G front, it means things will get back into motion. Huawei will likely lose some market share in Europe, where operators will continue to buy from Huawei but reduce exposure to the vendor, while European players will likely lose ground in China in similar magnitude.’’Baader Helvea“The positive element certainly is Trump’s softened stance on Huawei, which has not been expected ahead of the meeting. This may raise hopes that a technology war can be averted. However, the Huawei issue will probably be part of any trade deal and may only be addressed at a later stage when other stumbling stones have been resolved.’’(Adds analyst comments.)To contact the reporters on this story: Sam Unsted in London at sunsted@bloomberg.net;Kasper Viita in London at kviita1@bloomberg.netTo contact the editors responsible for this story: Beth Mellor at bmellor@bloomberg.net, Monica Houston-WaeschFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Mon, 01 Jul 2019 08:13:14 +0000Read more