Taiwan LED Sector « 電子 « 研究報告 « Downloads
| Attribute | Value |
|---|---|
| Version | Feb 26-2010-Credit Suisse |
| Date posted | March 2, 2010 |
| Downloaded | 238 times |
| Categories | 電子, 研究報告 |
| Tags | , , , |
Description
Opportunity to accumulate LED stocks on weakness: We believe the
recent Taiwan LED stock price correction, hit by oversupply concerns, was
overdone. We remain OVERWEIGHT Taiwan LED sector following our tightsupply
scenario assumption and the more than 20% share price correction
since end-2009. Epistar remains our top pick due to its leadership in LED
upstream. We also like I-Chiun as it is growing due to increased LED chip
shipment and immune to oversupply. We are NEUTRAL on Everlight due to
its still small exposure to LED backlight applications and also remain
NEUTRAL on Aixtron, as we are concerned about a potential slowdown in
the equipment market in 2H10.
