Catcher is expected to benefit from the next-generation iPhone product cycle and the growing adoption of metal casings in smartphones, leading Morgan Stanley to raise its price target to NT$288 (US $9.53). That's the fifth time it's raised its price target for Catcher over the past year.
“While Catcher's iPhone 6 order win is not new to the market, the firm order visibility of the iPhone 6 product cycle in 2014-2015 should support continued earnings growth due to iPhone 6 substantial earnings boost,” said Chen.
Catcher is expected to ship 10.5 million iPhone 6 casings in 2014. That's estimated to be about 15% of iPhone 6 orders. The company will reportedly ship 20 million casings for all iPhone models, for a 17% share of total iPhone orders.
Shipments to Apple are estimated to account for 20% of Catcher's 2014 revenue and 32% of its sales in 2015. Production will ramp up later this year with Apple accounting for 27% of sales in Q3 and 38% of sales in Q4.
Apple is expected to unveil a 4.7-inch iPhone 6 in Q3 and an even larger 5.5-inch iPhone 6 in Q4.
Read More [via GforGames]